Short Interest in Hour Loop, Inc. (NASDAQ:HOUR) Declines By 61.1%

Hour Loop, Inc. (NASDAQ:HOUR) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 26,920 shares, a drop of 61.1% from the July 15th total of 69,284 shares. Based on an average trading volume of 25,359 shares, the short-interest ratio is currently 1.1 days. Approximately 1.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Hour Loop Price Performance

Shares of HOUR stock traded down $0.03 during trading hours on Friday, reaching $1.94. 7,469 shares of the company traded hands, compared to its average volume of 19,960. The firm has a 50-day moving average price of $1.91 and a 200 day moving average price of $1.94. The company has a market cap of $68.43 million, a P/E ratio of 48.61 and a beta of 1.38. Hour Loop has a 12-month low of $1.24 and a 12-month high of $6.84.

Hour Loop (NASDAQ:HOUR) last released its earnings results on Tuesday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Hour Loop had a net margin of 1.14% and a return on equity of 22.31%. The company had revenue of $33.94 million during the quarter, compared to analyst estimates of $29.66 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 filing with the Securities and Exchange Commission. The institutional investor purchased 14,380 shares of the company’s stock, valued at approximately $26,000. 0.31% of the stock is currently owned by institutional investors.

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.