MYT Netherlands Parent B.V. (NYSE:MYTE) Stock Price Down 7.3% – Time to Sell?

Shares of MYT Netherlands Parent B.V. (NYSE:MYTE) traded down 7.3% during mid-day trading on Friday . The stock traded as low as $9.56 and last traded at $9.81. 143,965 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 180,115 shares. The stock had previously closed at $10.58.

Wall Street Analysts Forecast Growth

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

MYT Netherlands Parent B.V. Stock Down 4.9 %

The company has a quick ratio of 0.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $9.49 and a two-hundred day moving average of $7.08. The company has a market capitalization of $857.78 million, a PE ratio of -23.39 and a beta of 0.96.

MYT Netherlands Parent B.V. (NYSE:MYTE) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.07 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%. Equities research analysts predict that MYT Netherlands Parent B.V. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MYT Netherlands Parent B.V.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC grew its stake in MYT Netherlands Parent B.V. by 1.1% in the 4th quarter. Sylebra Capital LLC now owns 3,937,022 shares of the company’s stock worth $27,953,000 after acquiring an additional 41,624 shares during the period. Woodson Capital Management LP acquired a new stake in shares of MYT Netherlands Parent B.V. in the 4th quarter valued at about $11,906,000. Two Sigma Investments LP acquired a new stake in shares of MYT Netherlands Parent B.V. in the 4th quarter valued at about $157,000. Millennium Management LLC acquired a new stake in shares of MYT Netherlands Parent B.V. in the 4th quarter valued at about $546,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of MYT Netherlands Parent B.V. during the 4th quarter valued at about $204,000. 10.07% of the stock is currently owned by institutional investors and hedge funds.

About MYT Netherlands Parent B.V.

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.