Hour Loop, Inc. (NASDAQ:HOUR) Short Interest Up 295.6% in June

Hour Loop, Inc. (NASDAQ:HOUR) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 67,795 shares, an increase of 295.6% from the June 15th total of 17,138 shares. Based on an average daily volume of 115,209 shares, the short-interest ratio is presently 0.6 days. Approximately 3.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Hour Loop

A hedge fund recently bought a new stake in Hour Loop stock. Two Sigma Investments LP bought a new stake in shares of Hour Loop, Inc. (NASDAQ:HOUR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 54,226 shares of the company’s stock, valued at approximately $159,000. Two Sigma Investments LP owned 0.15% of Hour Loop as of its most recent SEC filing. 0.31% of the stock is currently owned by hedge funds and other institutional investors.

Hour Loop Price Performance

HOUR traded down $0.01 on Monday, hitting $2.07. The company had a trading volume of 87,201 shares, compared to its average volume of 103,936. Hour Loop has a 1-year low of $1.24 and a 1-year high of $6.84. The company’s fifty day moving average price is $2.01 and its 200 day moving average price is $1.94. The stock has a market cap of $72.84 million, a price-to-earnings ratio of 41.41 and a beta of 1.38.

Hour Loop (NASDAQ:HOUR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.02 EPS for the quarter. The company had revenue of $29.93 million during the quarter. Hour Loop had a return on equity of 25.29% and a net margin of 1.28%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

About Hour Loop

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.