Torrid (NYSE:CURV) Shares Up 5% – Here’s What Happened

Torrid Holdings Inc. (NYSE:CURV)’s stock price shot up 5% on Wednesday . The stock traded as high as $5.83 and last traded at $5.86. 10,952 shares traded hands during trading, a decline of 97% from the average session volume of 334,282 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

A number of research analysts have commented on CURV shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 price objective on shares of Torrid in a report on Friday, March 14th. Morgan Stanley boosted their target price on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Bank of America assumed coverage on shares of Torrid in a research report on Friday, December 6th. They set a “buy” rating and a $5.00 price target on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Torrid from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.63.

Torrid Stock Up 4.5 %

The business’s 50 day moving average is $6.11 and its 200-day moving average is $4.96. The firm has a market capitalization of $610.84 million, a P/E ratio of 38.93, a PEG ratio of 1.03 and a beta of 1.99.

Institutional Trading of Torrid

Several large investors have recently bought and sold shares of CURV. Wells Fargo & Company MN grew its position in Torrid by 150.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock worth $49,000 after acquiring an additional 5,678 shares during the last quarter. Corebridge Financial Inc. boosted its stake in shares of Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after purchasing an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Torrid by 55.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after purchasing an additional 4,013 shares during the last quarter. Barclays PLC increased its stake in shares of Torrid by 354.5% in 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. Finally, Two Sigma Advisers LP bought a new position in Torrid in the 4th quarter valued at approximately $80,000. 81.82% of the stock is owned by institutional investors and hedge funds.

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.