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

Hour Loop, Inc. (NASDAQ:HOUR) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 12,256 shares, a drop of 36.2% from the August 31st total of 19,206 shares. Based on an average daily trading volume, of 8,477 shares, the short-interest ratio is presently 1.4 days. Approximately 0.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Hour Loop in a report on Thursday, August 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Hour Loop Price Performance

Shares of NASDAQ HOUR opened at $1.86 on Friday. Hour Loop has a 1 year low of $1.67 and a 1 year high of $3.18. The firm has a 50-day moving average of $1.85 and a 200 day moving average of $1.93. The stock has a market cap of $65.47 million, a P/E ratio of 46.51 and a beta of 1.38.

Hour Loop (NASDAQ:HOUR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Hour Loop had a net margin of 1.14% and a return on equity of 22.31%. The business had revenue of $33.94 million for the quarter, compared to analysts’ expectations of $29.66 million.

About Hour Loop

Hour Loop, Inc is an e-commerce company that sells consumer products through online marketplaces and digital retail channels. Its merchandise spans categories such as home and garden, kitchen and dining, toys and games, apparel and accessories, beauty and personal care, electronics, and office products.

The company’s business model includes sourcing, merchandising, marketing and distributing products through platforms such as Amazon and other third-party online marketplaces. Hour Loop serves customers primarily in the United States through its online sales operations.

Hour Loop was established as an online retail business and became a publicly traded company on the Nasdaq under the symbol HOUR.