Short Interest in Stitch Fix, Inc. (NASDAQ:SFIX) Expands By 18.3%

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 10,360,000 shares, a growth of 18.3% from the February 13th total of 8,760,000 shares. Currently, 9.8% of the shares of the company are short sold. Based on an average trading volume of 3,480,000 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Stitch Fix by 1.5% in the fourth quarter. Rhumbline Advisers now owns 149,625 shares of the company's stock worth $645,000 after purchasing an additional 2,255 shares during the period. Corebridge Financial Inc. boosted its position in shares of Stitch Fix by 4.8% in the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company's stock worth $217,000 after purchasing an additional 2,295 shares during the period. Federated Hermes Inc. boosted its position in shares of Stitch Fix by 4.1% in the fourth quarter. Federated Hermes Inc. now owns 96,504 shares of the company's stock worth $416,000 after purchasing an additional 3,771 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Stitch Fix in the fourth quarter worth approximately $29,000. Finally, Cerity Partners LLC boosted its position in shares of Stitch Fix by 31.1% in the fourth quarter. Cerity Partners LLC now owns 29,452 shares of the company's stock worth $124,000 after purchasing an additional 6,993 shares during the period. 71.04% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

SFIX has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a "hold" rating in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 price target on shares of Stitch Fix in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $4.50.

Stitch Fix Trading Up 4.0 %

NASDAQ SFIX traded up $0.14 during trading hours on Friday, hitting $3.66. 4,150,943 shares of the company's stock traded hands, compared to its average volume of 2,355,502. The business's fifty day moving average price is $4.70 and its two-hundred day moving average price is $4.08. The firm has a market capitalization of $464.23 million, a P/E ratio of -4.41 and a beta of 2.13. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $6.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $312.11 million during the quarter, compared to analyst estimates of $298.04 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) earnings per share. On average, sell-side analysts expect that Stitch Fix will post -0.44 EPS for the current fiscal 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.