The Lovesac Company (NASDAQ:LOVE) Given Average Recommendation of “Moderate Buy” by Analysts

The Lovesac Company (NASDAQ:LOVE) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $26.20.

Several research analysts have recently weighed in on the company. Maxim Group set a $26.00 price objective on Lovesac in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Monday, December 29th. Wall Street Zen downgraded Lovesac from a “hold” rating to a “strong sell” rating in a report on Saturday, December 13th. DA Davidson dropped their price target on Lovesac from $24.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Finally, Canaccord Genuity Group cut their price target on Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, December 12th.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in shares of Lovesac during the second quarter valued at about $2,024,000. Isthmus Partners LLC acquired a new stake in shares of Lovesac in the 3rd quarter valued at about $2,348,000. Hood River Capital Management LLC increased its position in Lovesac by 17.4% in the 2nd quarter. Hood River Capital Management LLC now owns 989,117 shares of the company’s stock valued at $18,002,000 after buying an additional 146,911 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Lovesac during the 2nd quarter worth approximately $694,000. Finally, AWM Investment Company Inc. raised its stake in Lovesac by 7.2% during the 2nd quarter. AWM Investment Company Inc. now owns 730,960 shares of the company’s stock worth $13,303,000 after buying an additional 49,219 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Stock Up 3.4%

LOVE stock opened at $10.99 on Tuesday. The firm has a market cap of $160.67 million, a price-to-earnings ratio of 47.78, a PEG ratio of 0.34 and a beta of 2.35. The company’s fifty day simple moving average is $13.50 and its 200 day simple moving average is $14.61. Lovesac has a 12-month low of $10.44 and a 12-month high of $21.90.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.