StockNews.com initiated coverage on shares of LightInTheBox (NYSE:LITB - Free Report) in a research note issued to investors on Wednesday. The brokerage issued a buy rating on the technology company's stock.
LightInTheBox Stock Up 8.8 %
Shares of LightInTheBox stock traded up $0.06 during trading on Wednesday, hitting $0.74. The stock had a trading volume of 65,444 shares, compared to its average volume of 99,266. The stock has a 50 day simple moving average of $0.86 and a 200 day simple moving average of $1.07. The company has a market capitalization of $82.27 million, a PE ratio of -9.25 and a beta of 0.89. LightInTheBox has a 1 year low of $0.64 and a 1 year high of $1.70.
Institutional Trading of LightInTheBox
Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in LightInTheBox by 28.6% during the third quarter. Rhumbline Advisers now owns 38,570 shares of the technology company's stock worth $46,000 after buying an additional 8,580 shares during the last quarter. Renaissance Technologies LLC increased its position in LightInTheBox by 1.2% during the second quarter. Renaissance Technologies LLC now owns 1,040,131 shares of the technology company's stock worth $1,227,000 after buying an additional 12,351 shares during the last quarter. Citadel Advisors LLC acquired a new position in LightInTheBox during the fourth quarter worth $28,000. Finally, Jane Street Group LLC acquired a new position in LightInTheBox during the second quarter worth $33,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.
LightInTheBox Company Profile
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LightInTheBox Holding Co, Ltd., together with its subsidiaries, operates as an online retailer that delivers products directly to its consumers worldwide. The company provides customized, special occasion, and fast fashion apparel products; and other general merchandise products, such as accessories and gadgets, home garden products, toys and hobbies, electronics and communication devices, and other products.
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