Blue Nile Inc. (NASDAQ:NILE) shares saw an uptick in trading volume on Wednesday . 159,487 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 146,184 shares.The stock last traded at $34.00 and had previously closed at $32.94.

A number of research firms have commented on NILE. William Blair reissued a “market perform” rating on shares of Blue Nile in a report on Tuesday, August 9th. Zacks Investment Research downgraded Blue Nile from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.67.

The stock has a market capitalization of $394.48 million and a price-to-earnings ratio of 38.94. The stock has a 50-day moving average of $29.97 and a 200-day moving average of $27.12.

Blue Nile (NASDAQ:NILE) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.03. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company earned $113.77 million during the quarter, compared to analyst estimates of $113.95 million. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts forecast that Blue Nile Inc. will post $0.88 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Blue Nile stock. Schwab Charles Investment Management Inc. increased its position in Blue Nile Inc. (NASDAQ:NILE) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,514 shares of the company’s stock after buying an additional 999 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.32% of Blue Nile worth $1,356,000 as of its most recent filing with the SEC.

Blue Nile, Inc is an online retailer of diamonds and fine jewelry. The Company operates through the online retail jewelry segment. It sells its products through the Blue Nile Website in over 40 countries and territories across the world. Its domestic sales consist of products delivered to customers within the United States and its international sales consist of products delivered to customers outside the United States.

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