StockNews.com Initiates Coverage on LightInTheBox (NYSE:LITB)

StockNews.com started coverage on shares of LightInTheBox (NYSE:LITB) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

LightInTheBox Stock Performance

LightInTheBox stock opened at $0.75 on Thursday. The firm has a market cap of $83.38 million, a price-to-earnings ratio of -9.38 and a beta of 0.89. LightInTheBox has a 1 year low of $0.64 and a 1 year high of $1.70. The firm’s 50 day moving average price is $0.83 and its two-hundred day moving average price is $1.05.

LightInTheBox (NYSE:LITB) last issued its earnings results on Monday, March 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $135.56 million during the quarter.

Institutional Trading of LightInTheBox

A number of hedge funds have recently bought and sold shares of LITB. Rhumbline Advisers raised its holdings in shares of LightInTheBox by 28.6% during the third quarter. Rhumbline Advisers now owns 38,570 shares of the technology company’s stock valued at $46,000 after acquiring an additional 8,580 shares during the period. Renaissance Technologies LLC boosted its stake in LightInTheBox by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,040,131 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 12,351 shares during the period. Citadel Advisors LLC purchased a new position in LightInTheBox during the 4th quarter worth approximately $28,000. Finally, Jane Street Group LLC acquired a new stake in LightInTheBox during the 2nd quarter valued at $33,000. 56.77% of the stock is owned by hedge funds and other institutional investors.

LightInTheBox Company Profile

LightInTheBox Holding Co, Ltd., together with its subsidiaries, operates as an online retailer that delivers products directly to its consumers worldwide. The company provides apparel products; and other general merchandise products, such as small accessories and gadgets, home garden, toys and hobbies, electronics and communication devices, and other products.