Short Interest in Stitch Fix, Inc. (NASDAQ:SFIX) Grows By 18.3%

Stitch Fix, Inc. (NASDAQ:SFIX) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 10,360,000 shares, an increase of 18.3% from the February 13th total of 8,760,000 shares. Approximately 9.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,480,000 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC acquired a new stake in shares of Stitch Fix in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new position in Stitch Fix during the third quarter worth approximately $44,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stitch Fix by 32.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after acquiring an additional 121,084 shares during the period. Intech Investment Management LLC bought a new stake in shares of Stitch Fix during the third quarter worth approximately $102,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Stitch Fix by 14.6% during the third quarter. Captrust Financial Advisors now owns 337,846 shares of the company’s stock worth $953,000 after acquiring an additional 42,939 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SFIX shares. Canaccord Genuity Group increased their target price on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. UBS Group increased their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.50.

Stitch Fix Stock Performance

Shares of SFIX opened at $3.60 on Thursday. The firm has a market capitalization of $456.62 million, a price-to-earnings ratio of -4.34 and a beta of 2.13. The business’s fifty day moving average price is $4.77 and its two-hundred day moving average price is $4.08. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same period last year, the company earned ($0.29) EPS. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Stitch Fix will post -0.44 EPS for the current year.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.