Torrid (NYSE:CURV) Trading Up 4.7% - Here's What Happened

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) shot up 4.7% during mid-day trading on Friday . The stock traded as high as $5.22 and last traded at $5.18. 112,877 shares were traded during trading, a decline of 71% from the average session volume of 386,992 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CURV. The Goldman Sachs Group cut shares of Torrid from a "neutral" rating to a "sell" rating and set a $4.00 price target on the stock. in a research report on Tuesday, April 22nd. Telsey Advisory Group reiterated a "market perform" rating and set a $6.00 price target on shares of Torrid in a research report on Monday, June 2nd. Finally, BTIG Research began coverage on shares of Torrid in a research report on Thursday. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.75.

Torrid Stock Down 0.9%

The firm has a market cap of $530.67 million, a PE ratio of 33.69, a PEG ratio of 1.03 and a beta of 1.78. The stock's fifty day simple moving average is $5.46 and its two-hundred day simple moving average is $5.53.

Torrid (NYSE:CURV - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $265.97 million for the quarter, compared to analysts' expectations of $270.95 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. On average, equities research analysts anticipate that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

A number of institutional investors have recently made changes to their positions in CURV. Nomura Holdings Inc. purchased a new stake in shares of Torrid during the fourth quarter valued at approximately $14,240,000. Bank of America Corp DE grew its holdings in shares of Torrid by 4,794.2% during the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company's stock valued at $2,215,000 after buying an additional 414,942 shares during the last quarter. Shay Capital LLC grew its holdings in shares of Torrid by 140.2% during the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company's stock valued at $2,505,000 after buying an additional 279,521 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Torrid by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company's stock valued at $2,288,000 after buying an additional 222,504 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Torrid during the fourth quarter valued at approximately $570,000. Hedge funds and other institutional investors 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.