Lovesac Co (NASDAQ:LOVE) saw some unusual options trading on Wednesday. Stock investors purchased 500 put options on the company. This is an increase of 809% compared to the typical volume of 55 put options.
Shares of Lovesac stock traded down $1.78 during trading on Thursday, reaching $12.72. The company’s stock had a trading volume of 46,937 shares, compared to its average volume of 252,662. The stock has a 50-day moving average price of $15.48 and a two-hundred day moving average price of $21.64. Lovesac has a one year low of $13.11 and a one year high of $46.79.
Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Wednesday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.20. Lovesac had a negative return on equity of 9.23% and a negative net margin of 4.06%. The business had revenue of $48.10 million during the quarter, compared to analysts’ expectations of $47.78 million. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lovesac will post -0.64 EPS for the current year.
A number of research analysts have issued reports on LOVE shares. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Lovesac in a report on Wednesday, September 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $33.00 price target on shares of Lovesac in a report on Tuesday, September 17th. ValuEngine raised Lovesac from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Zacks Investment Research raised Lovesac from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, November 21st. Finally, Roth Capital cut their price target on Lovesac from $47.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Eight investment analysts have rated the stock with a buy rating, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $32.86.
Lovesac Company Profile
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.
See Also: Earnings Per Share
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