Reformation Inc. (NYSE:REF) Short Interest Update

Reformation Inc. (NYSE:REF) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,199,543 shares, an increase of 150.2% from the August 15th total of 879,261 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average trading volume of 419,211 shares, the short-interest ratio is presently 5.2 days.

Reformation Stock Up 4.6%

Reformation stock traded up $0.64 during trading hours on Monday, hitting $14.67. 308,156 shares of the stock traded hands, compared to its average volume of 429,044. Reformation has a one year low of $12.83 and a one year high of $17.26.

Reformation (NYSE:REF) last announced its earnings results on Thursday, September 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $155.23 million during the quarter, compared to the consensus estimate of $154.61 million. Reformation’s quarterly revenue was up 24.1% on a year-over-year basis. Sell-side analysts forecast that Reformation will post 0.15 earnings per share for the current year.

Insider Activity

In related news, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the transaction, the insider owned 29,091,749 shares in the company, valued at $405,829,898.55. The trade was a 9.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yael Aflalo sold 1,204,029 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total value of $16,796,204.55. Following the transaction, the director owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. This represents a 9.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 4,401,122 shares of company stock valued at $61,395,652.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Reformation in a research note on Monday, August 24th. They set an “equal weight” rating and a $16.00 target price on the stock. Citigroup began coverage on Reformation in a research note on Monday, August 24th. They issued a “buy” rating and a $20.00 price target for the company. Robert W. Baird initiated coverage on shares of Reformation in a report on Monday, August 24th. They issued an “outperform” rating and a $19.00 price target on the stock. William Blair started coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating on the stock. Finally, BTIG Research restated a “buy” rating on shares of Reformation in a report on Friday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.25.

About Reformation

Reformation, Inc is a fashion company that designs and sells women’s clothing, footwear and accessories under the Reformation brand. Its product range includes dresses, tops, denim, knitwear, outerwear, swimwear, bridal apparel and related accessories, with collections marketed around contemporary style and more sustainable production practices.

The company sells its products through its e-commerce platform and a network of retail stores, serving customers in the United States and select international markets.