Torrid (NYSE:CURV) Trading Up 4.6% – Here’s What Happened

Torrid Holdings Inc. (NYSE:CURV)’s stock price rose 4.6% during mid-day trading on Tuesday . The stock traded as high as $5.45 and last traded at $5.43. Approximately 81,541 shares were traded during trading, a decline of 73% from the average daily volume of 301,197 shares. The stock had previously closed at $5.19.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CURV shares. Bank of America began coverage on shares of Torrid in a research report on Friday, December 6th. They set a “buy” rating and a $5.00 target price for the company. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group dropped their price target on Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group decreased their price objective on Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.20.

Torrid Trading Up 3.5 %

The company’s fifty day simple moving average is $4.14 and its 200 day simple moving average is $5.52. The firm has a market capitalization of $562.55 million, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 1.20 and a beta of 2.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CURV. Ritholtz Wealth Management lifted its position in Torrid by 161.0% during the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock valued at $286,000 after purchasing an additional 23,553 shares during the period. GSA Capital Partners LLP lifted its holdings 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 buying an additional 50,439 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Torrid by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after buying an additional 6,968 shares during the period. Verition Fund Management LLC purchased a new position in shares of Torrid in the 3rd quarter worth $166,000. Finally, Centiva Capital LP bought a new stake in shares of Torrid in the third quarter worth $3,930,000. 81.82% of the stock is owned by institutional investors.

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.