StockNews.com Initiates Coverage on Xcel Brands (NASDAQ:XELB)

StockNews.com initiated coverage on shares of Xcel Brands (NASDAQ:XELB) in a research report issued on Sunday. The firm set a “sell” rating on the textile maker’s stock.

Xcel Brands Stock Performance

Shares of XELB stock opened at $0.75 on Friday. The stock’s 50-day moving average is $0.71 and its two-hundred day moving average is $0.71. The firm has a market cap of $17.50 million, a price-to-earnings ratio of -0.68 and a beta of 1.34. Xcel Brands has a 1 year low of $0.58 and a 1 year high of $1.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.72 and a current ratio of 0.79.

Xcel Brands (NASDAQ:XELB) last issued its quarterly earnings data on Wednesday, August 14th. The textile maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.08. The company had revenue of $2.95 million for the quarter, compared to analyst estimates of $2.98 million. Xcel Brands had a negative return on equity of 20.74% and a negative net margin of 179.30%. During the same quarter last year, the company posted ($0.09) earnings per share. Analysts predict that Xcel Brands will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On Xcel Brands

Several hedge funds have recently made changes to their positions in XELB. Levin Capital Strategies L.P. acquired a new position in Xcel Brands in the 1st quarter valued at about $86,000. Perritt Capital Management Inc. increased its position in Xcel Brands by 31.6% in the 1st quarter. Perritt Capital Management Inc. now owns 606,858 shares of the textile maker’s stock valued at $473,000 after acquiring an additional 145,833 shares during the period. Finally, AWM Investment Company Inc. acquired a new position in Xcel Brands in the 1st quarter valued at about $600,000. Hedge funds and other institutional investors own 18.55% of the company’s stock.

About Xcel Brands

Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston brand, the C Wonder, the TowerHill by Christie Brinkley brand (the CB brand), and other brands, as well as manages the Longaberger brand.