a.k.a. Brands Holding Corp. (NYSE:AKA) Sees Significant Growth in Short Interest

Key Points

• Short interest rose 15% to 11,091 shares as of April 15 (about 0.1% of shares), with a days-to-cover of 2.6, indicating increased bearish bets on a.k.a. Brands.
• Quarterly results were mixed: the company reported a $0.80 loss per share (beating the -$0.85 estimate) on $163.95M revenue (slightly below expectations) and remains unprofitable with a negative net margin and return on equity.
• Valuation and ownership: the stock trades near $11.20 with a market capitalization of $121.18M and a negative P/E, analysts have an average "Hold" rating with a $19 target, and institutions own about 55.35% of the shares.

a.k.a. Brands Holding Corp. (NYSE:AKA - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totaling 11,091 shares, an increase of 15.0% from the March 31st total of 9,642 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 4,262 shares, the days-to-cover ratio is presently 2.6 days.

a.k.a. Brands Stock Up 5.4%

NYSE AKA opened at $11.20 on Friday. The stock has a 50 day moving average price of $10.20 and a 200-day moving average price of $11.36. a.k.a. Brands has a one year low of $7.00 and a one year high of $16.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.41 and a current ratio of 1.23. The company has a market capitalization of $121.18 million, a P/E ratio of -3.82 and a beta of 1.57.

a.k.a. Brands (NYSE:AKA - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.05. a.k.a. Brands had a negative net margin of 5.24% and a negative return on equity of 23.52%. The company had revenue of $163.95 million for the quarter, compared to analysts' expectations of $164.45 million. As a group, equities analysts predict that a.k.a. Brands will post -1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of a.k.a. Brands in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.00.

Institutional Trading of a.k.a. Brands

An institutional investor recently bought a new position in a.k.a. Brands stock. 683 Capital Management LLC purchased a new position in a.k.a. Brands Holding Corp. (NYSE:AKA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 36,417 shares of the company's stock, valued at approximately $390,000. 683 Capital Management LLC owned approximately 0.34% of a.k.a. Brands at the end of the most recent quarter. Hedge funds and other institutional investors own 55.35% of the company's stock.

About a.k.a. Brands

a.k.a. Brands Holding Corp. operates a portfolio of online fashion brands in the United States, Australia, and internationally. The company offers streetwear apparel, dresses, tops, bottoms, shoes, headwear, and accessories through its online stores under the Princess Polly, Petal & Pup, Culture Kings, and mnml brands. It also operates physical stores under the Culture Kings brand. The company was founded in 2018 and is headquartered in San Francisco, California.

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