Torrid (NYSE:CURV) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Torrid Holdings Inc. (NYSE:CURV)’s stock price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $2.30 and traded as high as $2.51. Torrid shares last traded at $2.45, with a volume of 412,173 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CURV. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a research report on Thursday, October 15th. Bank of America raised their price objective on Torrid from $2.25 to $2.70 and gave the company a “buy” rating in a research note on Friday, September 4th. William Blair reiterated a “market perform” rating on shares of Torrid in a report on Tuesday, October 20th. Finally, Morgan Stanley began coverage on shares of Torrid in a research note on Monday, July 6th. They set an “equal weight” rating and a $1.80 price target on the stock. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Torrid has a consensus rating of “Reduce” and a consensus target price of $1.81.

Torrid Stock Up 10.4%

The stock has a market capitalization of $244.31 million, a PE ratio of -27.22 and a beta of 0.69. The firm’s fifty day moving average is $2.30 and its 200-day moving average is $1.85.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $231.73 million for the quarter, compared to analysts’ expectations of $237.24 million. On average, analysts expect that Torrid Holdings Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Torrid

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Torrid by 134.1% during the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after purchasing an additional 16,119 shares in the last quarter. Deutsche Bank AG bought a new position in Torrid during the second quarter worth about $63,000. Ieq Capital LLC bought a new position in Torrid during the 2nd quarter worth about $104,000. Bank of New York Mellon Corp acquired a new position in shares of Torrid during the 2nd quarter worth about $125,000. Finally, JB Capital Partners LP acquired a new stake in Torrid in the second quarter valued at $280,500. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

Torrid Holdings Inc is a specialty retailer focused on fashion for women who wear sizes 10 to 30. The company offers a broad assortment of apparel, including dresses, tops, bottoms, denim, activewear, outerwear and intimates, along with footwear, accessories and beauty products.

Operating under the Torrid brand, the company serves customers through an omnichannel model that combines brick-and-mortar stores with its e-commerce platform. Its merchandise is designed around fit, comfort and contemporary styles for the plus-size market, and the company also offers extended-size collections and specialized fit options.

Founded in 2001, Torrid primarily serves customers in the United States and Canada.