Reformation Inc. (NYSE:REF) Sees Large Growth in Short Interest

Key Points

• Short interest surged 147.4% to 879,261 shares as of August 14, representing about 1.5% of Reformation’s outstanding shares and 1.8 days to cover.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and a $19.25 target price.
• Major shareholders reduced their positions, with Scsp Refo selling 2.99 million shares and director Yael Aflalo selling 1.20 million shares, each at an average price of $13.95.

Reformation Inc. (NYSE:REF - Get Free Report) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 879,261 shares, an increase of 147.4% from the July 30th total of 355,460 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 489,089 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Ratings Changes

REF has been the topic of several recent analyst reports. Guggenheim started coverage on Reformation in a report on Monday. They set a "buy" rating and a $20.00 price objective on the stock. Telsey Advisory Group initiated coverage on shares of Reformation in a research report on Monday. They issued an "outperform" rating and a $20.00 price target for the company. Zacks Research raised shares of Reformation to a "hold" rating in a research note on Tuesday. Royal Bank Of Canada assumed coverage on shares of Reformation in a research report on Monday. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, BTIG Research began coverage on shares of Reformation in a research note on Monday. They set a "buy" rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

Reformation Trading Up 0.3%

NYSE:REF opened at $14.74 on Friday. Reformation has a fifty-two week low of $12.83 and a fifty-two week high of $17.26.

Insider Buying and Selling at Reformation

In other news, major shareholder Scsp Refo sold 2,987,199 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the completion of the sale, the insider directly owned 29,091,749 shares of the company's stock, valued at $405,829,898.55. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total value of $16,796,204.55. Following the completion of the transaction, the director owned 11,725,803 shares of the company's stock, valued at $163,574,951.85. This trade represents a 9.31% decrease in their position. The disclosure for this sale is available in the SEC filing.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source