Torrid (NYSE:CURV) Stock Price Down 4%

Shares of Torrid Holdings Inc. (NYSE:CURV) were down 4% during trading on Wednesday . The stock traded as low as $4.80 and last traded at $4.82. Approximately 7,378 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 117,495 shares. The stock had previously closed at $5.02.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Telsey Advisory Group lifted their price objective on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Finally, B. Riley assumed coverage on shares of Torrid in a research report on Thursday, February 8th. They set a “buy” rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.39.

Torrid Stock Up 1.6 %

The stock has a market capitalization of $532.08 million, a PE ratio of 50.51 and a beta of 1.99. The business’s 50-day moving average is $4.49 and its two-hundred day moving average is $4.33.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Torrid had a net margin of 0.99% and a negative return on equity of 5.42%. The firm had revenue of $293.54 million during the quarter, compared to analysts’ expectations of $276.20 million. During the same period in the previous year, the company earned ($0.04) earnings per share. Torrid’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, analysts anticipate that Torrid Holdings Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CURV. Bank of New York Mellon Corp increased its stake in shares of Torrid by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 178,039 shares of the company’s stock worth $393,000 after acquiring an additional 6,368 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of Torrid during the fourth quarter worth about $62,000. Great Lakes Advisors LLC acquired a new position in shares of Torrid during the fourth quarter worth about $93,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Torrid during the third quarter worth about $54,000. Finally, Fund 1 Investments LLC increased its stake in shares of Torrid by 493.6% during the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after acquiring an additional 166,841 shares during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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 and Torrid Curve 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.