MYT Netherlands Parent B.V. (NYSE:MYTE) Trading Down 2.6% – Should You Sell?

MYT Netherlands Parent B.V. (NYSE:MYTE)’s stock price fell 2.6% on Wednesday . The stock traded as low as $7.87 and last traded at $8.06. 15,361 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 193,059 shares. The stock had previously closed at $8.27.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upgraded MYT Netherlands Parent B.V. from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $14.00 in a report on Monday, March 3rd.

MYT Netherlands Parent B.V. Stock Down 0.2 %

The firm has a fifty day simple moving average of $9.69 and a 200-day simple moving average of $7.36. The company has a market capitalization of $703.44 million, a P/E ratio of -19.19 and a beta of 0.96. The company has a quick ratio of 0.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.09.

MYT Netherlands Parent B.V. (NYSE:MYTE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. MYT Netherlands Parent B.V. had a negative return on equity of 5.88% and a negative net margin of 3.98%. On average, equities research analysts expect that MYT Netherlands Parent B.V. will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in shares of MYT Netherlands Parent B.V. by 9,153.3% in the fourth quarter. Bank of America Corp DE now owns 4,164 shares of the company’s stock valued at $30,000 after buying an additional 4,119 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of MYT Netherlands Parent B.V. in the fourth quarter valued at approximately $80,000. XTX Topco Ltd acquired a new stake in shares of MYT Netherlands Parent B.V. in the fourth quarter valued at approximately $96,000. BNP Paribas Financial Markets acquired a new stake in shares of MYT Netherlands Parent B.V. in the fourth quarter valued at approximately $106,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in shares of MYT Netherlands Parent B.V. in the fourth quarter valued at approximately $124,000. 10.07% of the stock is currently owned by institutional investors.

MYT Netherlands Parent B.V. Company Profile

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.