Torrid (NYSE:CURV) Shares Down 7.2% – Time to Sell?

Torrid Holdings Inc. (NYSE:CURV)’s share price was down 7.2% on Tuesday . The company traded as low as $5.71 and last traded at $5.52. Approximately 33,118 shares changed hands during trading, a decline of 89% from the average daily volume of 309,960 shares. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

CURV has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Torrid from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley lifted their target price on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group upped their price target on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Bank of America initiated coverage on shares of Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.00.

Torrid Stock Performance

The stock has a market capitalization of $579.31 million, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The stock has a 50-day simple moving average of $6.10 and a 200 day simple moving average of $4.94.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $275.60 million during the quarter, compared to the consensus estimate of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Torrid’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. Equities analysts predict that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Torrid

Several institutional investors and hedge funds have recently made changes to their positions in CURV. Rhumbline Advisers raised its stake in Torrid by 10.9% during the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock worth $90,000 after buying an additional 1,685 shares during the period. Corebridge Financial Inc. raised its position in shares of Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock worth $53,000 after purchasing an additional 3,509 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Torrid by 55.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock valued at $59,000 after purchasing an additional 4,013 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock worth $49,000 after acquiring an additional 5,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 6,968 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

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, 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.