Torrid Holdings Inc. (NYSE:CURV) Sees Large Increase in Short Interest

Torrid Holdings Inc. (NYSE:CURV) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,330,000 shares, an increase of 50.7% from the December 15th total of 882,600 shares. Based on an average daily volume of 514,800 shares, the short-interest ratio is presently 2.6 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Torrid

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Torrid by 125.2% during the third quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock valued at $82,000 after acquiring an additional 11,551 shares in the last quarter. Barclays PLC grew its position in shares of Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after purchasing an additional 13,584 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Torrid by 11.4% in the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after purchasing an additional 26,703 shares during the period. XTX Topco Ltd purchased a new stake in shares of Torrid in the third quarter worth $145,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Torrid in the third quarter worth $104,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CURV shares. Bank of America started coverage on Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 target price on the stock. The Goldman Sachs Group dropped their price objective on shares of Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. Finally, Telsey Advisory Group reduced their target price on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.20.

Torrid Stock Up 4.4 %

Shares of NYSE:CURV traded up $0.26 during midday trading on Friday, reaching $6.26. 286,850 shares of the company traded hands, compared to its average volume of 277,632. Torrid has a 12 month low of $2.18 and a 12 month high of $9.14. The firm’s fifty day moving average price is $4.66 and its two-hundred day moving average price is $5.42. The firm has a market capitalization of $656.22 million, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 1.64 and a beta of 1.91.

About Torrid

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.