Torrid (NYSE:CURV) Sees Large Volume Increase – Here’s Why

Shares of Torrid Holdings Inc. (NYSE:CURV) saw strong trading volume on Wednesday . 932,021 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 299,539 shares.The stock last traded at $6.27 and had previously closed at $6.68.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Telsey Advisory Group lowered their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Bank of America started coverage on Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 price objective for the company. The Goldman Sachs Group decreased their price target on Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their price objective on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Torrid presently has an average rating of “Hold” and an average target price of $5.00.

Torrid Stock Down 3.5 %

The firm has a market cap of $675.49 million, a PE ratio of 42.99, a price-to-earnings-growth ratio of 2.07 and a beta of 1.96. The business has a 50 day simple moving average of $5.32 and a two-hundred day simple moving average of $5.25.

Torrid (NYSE:CURV) last issued its earnings results on Tuesday, December 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. Equities analysts forecast that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Torrid by 354.5% during the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after buying an additional 13,584 shares during the period. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 11,551 shares in the last quarter. Rhumbline Advisers grew its stake in Torrid by 10.9% in the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock valued at $90,000 after purchasing an additional 1,685 shares during the last quarter. Maven Securities LTD bought a new position in Torrid in the third quarter worth about $98,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Torrid during the third quarter valued at about $104,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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.