LightInTheBox Holding Co., Ltd. (NYSE:LITB) Shares Shorted: Short Interest Down 49.9% in October

LightInTheBox Holding Co., Ltd. (NYSE:LITB) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 2,325 shares, a drop of 49.9% from the September 30th total of 4,639 shares. Based on an average daily trading volume, of 6,950 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Insider Activity

In related news, CEO Jian He bought 4,254,553 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $0.26 per share, for a total transaction of $1,106,183.78. Following the acquisition, the chief executive officer owned 4,254,553 shares in the company, valued at $1,106,183.78. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 62.20% of the company’s stock.

LightInTheBox Price Performance

Shares of NYSE:LITB traded down $0.61 during midday trading on Friday, reaching $2.19. The company had a trading volume of 7,826 shares, compared to its average volume of 4,273. The stock’s fifty day moving average price is $2.98 and its 200-day moving average price is $2.83. The stock has a market capitalization of $38.96 million, a P/E ratio of 4.55 and a beta of 0.02. LightInTheBox has a one year low of $1.63 and a one year high of $3.92.

LightInTheBox (NYSE:LITB) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $56.81 million for the quarter. LightInTheBox had a net margin of 3.91% and a negative return on equity of 231.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of LightInTheBox from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, LightInTheBox presently has a consensus rating of “Hold”.

LightInTheBox Company Profile

LightInTheBox Holding Co, Ltd. (NYSE:LITB) is a global online retail company that sells products directly to consumers through its websites and mobile applications. The company primarily serves customers outside China and uses a cross-border e-commerce model to market merchandise sourced from manufacturers and suppliers.

Its product offerings include apparel, footwear, accessories, home and garden goods, consumer electronics, beauty products, and other general merchandise. LightInTheBox also offers customized and made-to-order products in selected categories, including clothing and event-related apparel.

Founded in 2007 and headquartered in Singapore, LightInTheBox has built an international customer base spanning numerous markets in North America, Europe, Asia, and other regions.