Hour Loop, Inc. (NASDAQ:HOUR) Short Interest Down 78.5% in June

Hour Loop, Inc. (NASDAQ:HOUR) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 17,138 shares, a decline of 78.5% from the May 31st total of 79,649 shares. Based on an average daily volume of 27,845 shares, the short-interest ratio is currently 0.6 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Hour Loop

An institutional investor recently bought a new stake in Hour Loop stock. Virtu Financial LLC acquired a new position in shares of Hour Loop, Inc. (NASDAQ:HOUR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,380 shares of the company’s stock, valued at approximately $26,000. Institutional investors and hedge funds own 0.31% of the company’s stock.

Hour Loop Price Performance

Shares of NASDAQ:HOUR traded up $0.01 on Monday, reaching $1.81. The company’s stock had a trading volume of 16,954 shares, compared to its average volume of 54,113. Hour Loop has a 52-week low of $1.24 and a 52-week high of $6.84. The stock has a market capitalization of $63.69 million, a P/E ratio of 36.21 and a beta of 1.38. The stock’s 50-day moving average is $2.05 and its two-hundred day moving average is $1.94.

Hour Loop (NASDAQ:HOUR) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.02 EPS for the quarter. Hour Loop had a return on equity of 25.29% and a net margin of 1.28%.The firm had revenue of $29.93 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

About Hour Loop

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.