Hour Loop, Inc. (NASDAQ:HOUR) Sees Large Growth in Short Interest

Hour Loop, Inc. (NASDAQ:HOUR) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 67,795 shares, a growth of 295.6% from the June 15th total of 17,138 shares. Based on an average daily volume of 115,209 shares, the days-to-cover ratio is presently 0.6 days. Currently, 3.9% of the company’s stock are sold short.

Institutional Trading of Hour Loop

An institutional investor recently bought a new stake in Hour Loop stock. Virtu Financial LLC purchased a new position in Hour Loop, Inc. (NASDAQ:HOUR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,380 shares of the company’s stock, valued at approximately $26,000. 0.31% of the stock is currently owned by hedge funds and other institutional investors.

Hour Loop Price Performance

Hour Loop stock traded down $0.01 during midday trading on Monday, hitting $2.07. 87,201 shares of the stock were exchanged, compared to its average volume of 103,936. Hour Loop has a 1 year low of $1.24 and a 1 year high of $6.84. The firm has a market cap of $72.84 million, a P/E ratio of 41.41 and a beta of 1.38. The company has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $1.94.

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

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Hour Loop Company Profile

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.