Torrid (NYSE:CURV) Sees Strong Trading Volume – What’s Next?

Torrid Holdings Inc. (NYSE:CURV) shares saw unusually-strong trading volume on Tuesday . Approximately 447,449 shares were traded during trading, an increase of 51% from the previous session’s volume of 297,141 shares.The stock last traded at $4.87 and had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CURV. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. Bank of America began coverage on Torrid in a report on Friday, December 6th. They issued a “buy” rating and a $5.00 price objective on the stock. Telsey Advisory Group decreased their target price on Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group cut their price target on shares of Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.20.

Torrid Price Performance

The stock has a fifty day simple moving average of $4.01 and a 200-day simple moving average of $5.57. The company has a market capitalization of $510.17 million, a price-to-earnings ratio of 32.47, a P/E/G ratio of 1.20 and a beta of 2.01.

Hedge Funds Weigh In On Torrid

Large investors have recently made changes to their positions in the company. Barclays PLC increased its holdings in Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after buying an additional 13,584 shares in the last quarter. Maven Securities LTD purchased a new position in shares of Torrid in the 3rd quarter valued at about $98,000. Quadrature Capital Ltd acquired a new position in Torrid in the 3rd quarter worth about $104,000. XTX Topco Ltd purchased a new position in Torrid during the third quarter worth approximately $145,000. Finally, Verition Fund Management LLC acquired a new stake in Torrid in the third quarter valued at approximately $166,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Torrid Company Profile

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.