Stitch Fix (NASDAQ:SFIX) Shares Down 6.2% - Should You Sell?

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report)'s stock price was down 6.2% on Friday . The company traded as low as $4.34 and last traded at $4.36. Approximately 1,505,267 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 2,066,440 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

SFIX has been the topic of a number of research analyst reports. Telsey Advisory Group raised their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the company a "market perform" rating in a research note on Wednesday. Canaccord Genuity Group increased their price target on Stitch Fix from $5.00 to $6.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, Stitch Fix has a consensus rating of "Hold" and an average price target of $3.96.

Stitch Fix Price Performance

The company has a fifty day simple moving average of $3.72 and a 200-day simple moving average of $3.73. The company has a market cap of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.21% and a negative net margin of 7.71%. The company had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. Stitch Fix's revenue for the quarter was down 12.6% compared to the same quarter last year. On average, analysts anticipate that Stitch Fix, Inc. will post -0.61 EPS for the current year.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total transaction of $4,190,511.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.95% of the company's stock.

Institutional Trading of Stitch Fix

Hedge funds have recently modified their holdings of the business. Pallas Capital Advisors LLC acquired a new position in Stitch Fix during the second quarter valued at $48,000. Caprock Group LLC acquired a new position in shares of Stitch Fix in the 3rd quarter valued at about $33,000. CWM LLC lifted its position in shares of Stitch Fix by 132.5% in the second quarter. CWM LLC now owns 11,867 shares of the company's stock worth $49,000 after purchasing an additional 6,762 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Stitch Fix during the third quarter worth approximately $36,000. Finally, Meeder Asset Management Inc. purchased a new position in Stitch Fix during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 71.04% of the company's stock.

About Stitch Fix

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.