ThredUp Inc. (NASDAQ:TDUP) Short Interest Up 23.2% in January

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 4,890,000 shares, a growth of 23.2% from the December 31st total of 3,970,000 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average trading volume of 841,500 shares, the days-to-cover ratio is presently 5.8 days.

ThredUp Trading Up 7.6 %

TDUP stock traded up $0.18 during mid-day trading on Tuesday, reaching $2.54. The company's stock had a trading volume of 1,172,683 shares, compared to its average volume of 1,464,278. ThredUp has a 12 month low of $0.50 and a 12 month high of $2.61. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The business's 50 day moving average price is $1.71 and its 200 day moving average price is $1.24. The company has a market cap of $288.95 million, a price-to-earnings ratio of -3.97 and a beta of 1.75.

Wall Street Analyst Weigh In

TDUP has been the topic of a number of recent analyst reports. Telsey Advisory Group lifted their price objective on ThredUp from $2.00 to $3.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Tuesday, January 14th.

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 137,076 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $2.22, for a total transaction of $304,308.72. Following the completion of the transaction, the director now directly owns 250,956 shares in the company, valued at $557,122.32. This represents a 35.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Nova bought 45,897 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $1.00 per share, with a total value of $45,897.00. Following the acquisition, the director now owns 124,142 shares in the company, valued at approximately $124,142. This represents a 58.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 214,797 shares of company stock valued at $264,905 and have sold 1,368,928 shares valued at $2,825,611. 34.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of ThredUp by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 444,412 shares of the company's stock worth $756,000 after purchasing an additional 91,708 shares during the period. Sei Investments Co. bought a new position in ThredUp in the 2nd quarter worth about $37,000. Marshall Wace LLP raised its stake in ThredUp by 37.4% in the second quarter. Marshall Wace LLP now owns 771,483 shares of the company's stock valued at $1,312,000 after purchasing an additional 209,792 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp during the 2nd quarter valued at $43,000. Finally, Squarepoint Ops LLC lifted its stake in ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company's stock worth $684,000 after purchasing an additional 169,196 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.