Short Interest in Reformation Inc. (NYSE:REF) Grows By 147.4%

Reformation Inc. (NYSE:REF) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 879,261 shares, an increase of 147.4% from the July 30th total of 355,460 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 489,089 shares, the short-interest ratio is presently 1.8 days.

Key Headlines Impacting Reformation

Here are the key news stories impacting Reformation this week:

• Positive Sentiment: Reformation is reportedly preparing to open a high-tech store at Toronto’s Eaton Centre, expanding its physical retail presence and potentially increasing brand visibility and sales in Canada. Internet-famous fashion brand opening high-tech new store in Toronto mall

Reformation Trading Up 2.0%

REF opened at $14.99 on Friday. Reformation has a twelve month low of $12.83 and a twelve month high of $17.26.

Insider Transactions at Reformation

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the completion of the sale, the insider directly owned 29,091,749 shares of the company’s stock, valued at approximately $405,829,898.55. The trade was a 9.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yael Aflalo sold 1,204,029 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the transaction, the director owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. The trade was a 9.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on REF. Royal Bank Of Canada assumed coverage on shares of Reformation in a report on Monday, August 24th. They issued an “outperform” rating and a $18.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Reformation in a research report on Monday, August 24th. They set an “equal weight” rating and a $16.00 target price for the company. Wall Street Zen upgraded shares of Reformation to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. began coverage on Reformation in a research note on Monday, August 24th. They issued an “overweight” rating and a $21.00 price target on the stock. Finally, BTIG Research initiated coverage on Reformation in a research report on Monday, August 24th. They issued a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Reformation has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.