Reformation Inc. (NYSE:REF) Short Interest Up 150.2% in August

Reformation Inc. (NYSE:REF) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,199,543 shares, an increase of 150.2% from the August 15th total of 879,261 shares. Based on an average trading volume of 419,211 shares, the short-interest ratio is currently 5.2 days. Approximately 3.7% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating on shares of Reformation in a research note on Friday. JPMorgan Chase & Co. began coverage on shares of Reformation in a research note on Monday, August 24th. They issued an “overweight” rating and a $21.00 target price on the stock. Citigroup began coverage on shares of Reformation in a report on Monday, August 24th. They set a “buy” rating and a $20.00 price target for the company. Telsey Advisory Group initiated coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Wall Street Zen raised shares of Reformation to a “hold” rating in a report on Saturday, August 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Reformation Trading Up 8.1%

Shares of REF stock traded up $1.17 during trading hours on Tuesday, reaching $15.68. The company’s stock had a trading volume of 118,683 shares, compared to its average volume of 418,395. Reformation has a one year low of $12.83 and a one year high of $17.26.

Reformation (NYSE:REF) last announced its earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $155.23 million for the quarter, compared to the consensus estimate of $154.61 million. The business’s revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Reformation will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Reformation

In related news, Director Yael Aflalo sold 60,298 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total transaction of $841,157.10. Following the transaction, the director directly owned 11,665,505 shares in the company, valued at $162,733,794.75. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Scsp Refo sold 149,596 shares of Reformation stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total value of $2,086,864.20. Following the completion of the transaction, the insider directly owned 28,942,153 shares in the company, valued at $403,743,034.35. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,401,122 shares of company stock valued at $61,395,652.

About Reformation

Reformation, Inc is a fashion company that designs and sells women’s clothing, footwear and accessories under the Reformation brand. Its product range includes dresses, tops, denim, knitwear, outerwear, swimwear, bridal apparel and related accessories, with collections marketed around contemporary style and more sustainable production practices.

The company sells its products through its e-commerce platform and a network of retail stores, serving customers in the United States and select international markets.