Stitch Fix, Inc. (NASDAQ:SFIX) Sees Significant Growth in Short Interest

Stitch Fix, Inc. (NASDAQ:SFIX) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 8,110,000 shares, a growth of 23.3% from the December 15th total of 6,580,000 shares. Based on an average daily trading volume, of 3,170,000 shares, the short-interest ratio is presently 2.6 days.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now directly owns 913,962 shares in the company, valued at $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stitch Fix

Large investors have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN boosted its stake in Stitch Fix by 48.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after buying an additional 4,460,668 shares during the last quarter. Renaissance Technologies LLC grew its stake in Stitch Fix by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after purchasing an additional 465,900 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of Stitch Fix by 34.4% during the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after buying an additional 864,100 shares during the period. Geode Capital Management LLC raised its holdings in shares of Stitch Fix by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after purchasing an additional 83,220 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Stitch Fix in the third quarter valued at $2,862,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SFIX has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Telsey Advisory Group upped their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group lifted their price target on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.96.

Stitch Fix Price Performance

SFIX stock traded down $0.04 during midday trading on Thursday, hitting $5.23. 2,315,457 shares of the stock traded hands, compared to its average volume of 3,022,006. The stock’s fifty day simple moving average is $4.37 and its 200-day simple moving average is $3.88. The firm has a market cap of $663.37 million, a P/E ratio of -6.30 and a beta of 1.99. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. On average, research analysts predict that Stitch Fix will post -0.44 earnings per share for the current year.

Stitch Fix Company Profile

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.