Torrid (NYSE:CURV) Sees Large Volume Increase - Here's What Happened

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) shares saw strong trading volume on Wednesday . 932,021 shares traded hands during mid-day trading, an increase of 211% from the previous session's volume of 299,539 shares.The stock last traded at $6.27 and had previously closed at $6.68.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Torrid from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, December 4th. Bank of America began coverage on Torrid in a report on Friday, December 6th. They issued a "buy" rating and a $5.00 price target on the stock. Morgan Stanley boosted their target price on Torrid from $3.00 to $4.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 21st. Finally, Telsey Advisory Group dropped their target price on shares of Torrid from $8.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.50.

Torrid Trading Up 0.9 %

The stock has a market cap of $673.61 million, a price-to-earnings ratio of 42.87, a P/E/G ratio of 1.06 and a beta of 1.97. The firm's 50 day moving average is $5.45 and its two-hundred day moving average is $5.22.

Torrid (NYSE:CURV - Get Free Report) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. As a group, equities analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

A number of hedge funds and other institutional investors have recently made changes to their positions in CURV. GSA Capital Partners LLP grew its holdings in Torrid by 87.3% in the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company's stock valued at $425,000 after purchasing an additional 50,439 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company's stock valued at $346,000 after purchasing an additional 6,968 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Torrid during the 3rd quarter valued at $166,000. Centiva Capital LP acquired a new stake in shares of Torrid during the 3rd quarter worth $3,930,000. Finally, Maven Securities LTD purchased a new position in shares of Torrid in the 3rd quarter worth $98,000. Hedge funds and other institutional investors own 81.82% of the company's stock.

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.