MYT Netherlands Parent B.V. (NYSE:MYTE) Sees Significant Increase in Short Interest

MYT Netherlands Parent B.V. (NYSE:MYTE - Get Free Report) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 263,700 shares, a growth of 134.2% from the February 13th total of 112,600 shares. Based on an average trading volume of 188,700 shares, the short-interest ratio is currently 1.4 days. Currently, 0.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Institutional Trading of MYT Netherlands Parent B.V.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Portolan Capital Management LLC grew its holdings in shares of MYT Netherlands Parent B.V. by 30.6% in the third quarter. Portolan Capital Management LLC now owns 1,805,758 shares of the company's stock valued at $6,880,000 after purchasing an additional 422,942 shares during the period. Luxor Capital Group LP grew its stake in shares of MYT Netherlands Parent B.V. by 94.3% in the 3rd quarter. Luxor Capital Group LP now owns 459,588 shares of the company's stock valued at $1,751,000 after buying an additional 223,013 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in shares of MYT Netherlands Parent B.V. in the 4th quarter valued at approximately $4,225,000. Coronation Fund Managers Ltd. acquired a new stake in shares of MYT Netherlands Parent B.V. during the 4th quarter worth approximately $124,000. Finally, DJE Kapital AG purchased a new stake in shares of MYT Netherlands Parent B.V. during the 4th quarter valued at approximately $15,667,000. 10.07% of the stock is owned by institutional investors and hedge funds.

MYT Netherlands Parent B.V. Price Performance

Shares of NYSE:MYTE traded down $0.25 during midday trading on Thursday, hitting $8.51. The company's stock had a trading volume of 253,175 shares, compared to its average volume of 192,666. The company has a market cap of $725.95 million, a P/E ratio of -19.80 and a beta of 0.96. MYT Netherlands Parent B.V. has a 12-month low of $3.13 and a 12-month high of $12.50. The business's 50 day simple moving average is $9.61 and its 200 day simple moving average is $7.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.22 and a current ratio of 1.78.

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MYT Netherlands Parent B.V. (NYSE:MYTE - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that MYT Netherlands Parent B.V. will post -0.39 EPS for the current year.

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.

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