Torrid (NYSE:CURV) Shares Down 9.3% – Time to Sell?

Torrid Holdings Inc. (NYSE:CURV)’s share price dropped 9.3% during trading on Tuesday . The stock traded as low as $5.28 and last traded at $5.24. Approximately 98,869 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 311,684 shares. The stock had previously closed at $5.77.

Analyst Ratings Changes

Several research firms have weighed in on CURV. Morgan Stanley boosted their target price on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 21st. Bank of America assumed coverage on Torrid in a research report on Friday, December 6th. They issued a “buy” rating and a $5.00 target price on the stock. The Goldman Sachs Group raised their price objective on Torrid from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Telsey Advisory Group cut their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.63.

Torrid Trading Down 5.5 %

The firm has a market cap of $502.83 million, a price-to-earnings ratio of 32.00, a PEG ratio of 1.03 and a beta of 1.99. The company has a fifty day moving average price of $6.13 and a 200-day moving average price of $5.01.

Institutional Investors Weigh In On Torrid

A number of hedge funds and other institutional investors have recently made changes to their positions in CURV. Charles Schwab Investment Management Inc. boosted its holdings in Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after buying an additional 6,968 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Torrid by 11.4% in the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after acquiring an additional 26,703 shares during the period. Barclays PLC boosted its stake in shares of Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after acquiring an additional 13,584 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Torrid by 87.3% during the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock valued at $425,000 after acquiring an additional 50,439 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Torrid by 125.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock worth $82,000 after purchasing an additional 11,551 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

Torrid Company Profile

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, Torrid Curve, CURV, and Lovesick 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.