MYT Netherlands Parent B.V. (NYSE:MYTE) Stock Price Down 0.9% – Time to Sell?

MYT Netherlands Parent B.V. (NYSE:MYTE) traded down 0.9% during trading on Wednesday . The stock traded as low as $7.2450 and last traded at $7.43. Approximately 114,677 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 172,407 shares. The stock had previously closed at $7.50.

MYT Netherlands Parent B.V. Stock Performance

The company has a 50-day simple moving average of $7.81 and a two-hundred day simple moving average of $8.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.22 and a current ratio of 1.78. The firm has a market capitalization of $636.74 million, a P/E ratio of -17.28 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC purchased a new position in shares of MYT Netherlands Parent B.V. in the 2nd quarter worth about $3,243,000. Royal Bank of Canada lifted its holdings in shares of MYT Netherlands Parent B.V. by 49,861.8% during the 1st quarter. Royal Bank of Canada now owns 82,437 shares of the company’s stock valued at $623,000 after buying an additional 82,272 shares during the period. Monimus Capital Management LP boosted its stake in shares of MYT Netherlands Parent B.V. by 174.3% in the 2nd quarter. Monimus Capital Management LP now owns 124,147 shares of the company’s stock worth $986,000 after buying an additional 78,888 shares during the last quarter. Militia Capital Partners LP purchased a new position in shares of MYT Netherlands Parent B.V. in the 2nd quarter worth $279,000. Finally, Boothbay Fund Management LLC grew its holdings in shares of MYT Netherlands Parent B.V. by 22.6% in the second quarter. Boothbay Fund Management LLC now owns 160,000 shares of the company’s stock worth $1,270,000 after acquiring an additional 29,500 shares during the period. Hedge funds and other institutional investors own 10.07% of the company’s stock.

About MYT Netherlands Parent B.V.

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores. It serves high-income luxury consumers. The company was founded in 1987 and is based in Munich, Germany.