ThredUp Inc. (NASDAQ:TDUP) Short Interest Down 13.3% in February

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a decrease of 13.3% from the February 13th total of 4,200,000 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily volume of 921,800 shares, the days-to-cover ratio is presently 3.9 days.

ThredUp Stock Performance

Shares of TDUP stock opened at $2.23 on Wednesday. The stock has a fifty day moving average of $2.30 and a 200 day moving average of $1.52. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.99. The firm has a market capitalization of $259.11 million, a price-to-earnings ratio of -3.48 and a beta of 1.73. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

Insider Activity

In other news, Director Patricia Nakache sold 625,498 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the completion of the sale, the director now owns 250,956 shares of the company’s stock, valued at approximately $489,364.20. This represents a 71.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 2,693,535 shares of company stock valued at $6,297,600. 34.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares in the last quarter. Virtu Financial LLC bought a new position in ThredUp in the fourth quarter worth $33,000. Cubist Systematic Strategies LLC bought a new position in ThredUp in the fourth quarter worth $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ThredUp by 9.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock worth $63,000 after purchasing an additional 3,908 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in ThredUp in the fourth quarter worth $64,000. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TDUP shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.