Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) Shares Shorted: Short Interest Down 41.1% in September

Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 4,339 shares, a drop of 41.1% from the September 15th total of 7,367 shares. Based on an average daily volume of 22,341 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Lulu’s Fashion Lounge

A hedge fund recently bought a new position in Lulu’s Fashion Lounge stock. Sweeney & Michel LLC bought a new position in shares of Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,317 shares of the company’s stock, valued at approximately $400,000. Sweeney & Michel LLC owned about 1.09% of Lulu’s Fashion Lounge as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Lulu’s Fashion Lounge Stock Performance

Shares of NASDAQ LVLU traded up $1.09 during mid-day trading on Friday, reaching $15.32. The company had a trading volume of 6,185 shares, compared to its average volume of 15,106. Lulu’s Fashion Lounge has a one year low of $4.26 and a one year high of $32.32. The firm has a market cap of $43.97 million, a price-to-earnings ratio of -5.21 and a beta of 0.27. The business’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $11.43.

Lulu’s Fashion Lounge (NASDAQ:LVLU) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.37). The company had revenue of $67.81 million during the quarter, compared to analyst estimates of $83.49 million. Lulu’s Fashion Lounge had a negative net margin of 3.17% and a negative return on equity of 946.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LVLU shares. Wall Street Zen upgraded Lulu’s Fashion Lounge to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lulu’s Fashion Lounge in a research report on Thursday. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Lulu’s Fashion Lounge has an average rating of “Sell”.

Lulu’s Fashion Lounge Company Profile

Lulu’s Fashion Lounge Holdings, Inc operates an online fashion retail business focused on women’s apparel, footwear, accessories and occasionwear. Through its Lulus brand, the company offers dresses, tops, bottoms, jumpsuits, shoes, handbags, jewelry and other fashion products, with an emphasis on styles for events such as weddings, parties and other special occasions.

The company was founded in 1996 by mother-and-daughter entrepreneurs Debra Cannon and Colleen Winter. It began as a vintage clothing store in Chico, California, before developing into a digitally focused fashion retailer.