Lovesac (NASDAQ:LOVE) Trading 3.4% Higher – Should You Buy?

The Lovesac Company (NASDAQ:LOVE)’s share price rose 3.4% during trading on Monday . The company traded as high as $11.05 and last traded at $10.99. Approximately 160,901 shares traded hands during trading, a decline of 15% from the average daily volume of 188,204 shares. The stock had previously closed at $10.63.

Analyst Ratings Changes

Several equities analysts recently weighed in on LOVE shares. Canaccord Genuity Group cut their price target on shares of Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, December 12th. DA Davidson decreased their price objective on shares of Lovesac from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a report on Monday, December 29th. Maxim Group set a $26.00 price objective on shares of Lovesac in a research note on Friday, December 12th. Finally, Wall Street Zen cut shares of Lovesac from a “hold” rating to a “strong sell” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Lovesac Price Performance

The firm has a fifty day moving average of $13.50 and a 200 day moving average of $14.61. The stock has a market capitalization of $160.67 million, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 0.34 and a beta of 2.35.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.02). Lovesac had a net margin of 1.05% and a return on equity of 3.61%. The company had revenue of $150.17 million during the quarter, compared to analyst estimates of $154.17 million. During the same period in the previous year, the firm posted ($0.32) earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Research analysts predict that The Lovesac Company will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Lovesac

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Lovesac by 130.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares during the period. Meeder Asset Management Inc. grew its position in Lovesac by 147.9% during the third quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $91,000 after buying an additional 3,196 shares during the period. Ancora Advisors LLC purchased a new position in Lovesac in the third quarter valued at $146,000. XTX Topco Ltd purchased a new position in Lovesac in the fourth quarter valued at $149,000. Finally, PFG Investments LLC acquired a new position in shares of Lovesac in the fourth quarter worth about $156,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.