Short Interest in Hour Loop, Inc. (NASDAQ:HOUR) Drops By 61.1%

Hour Loop, Inc. (NASDAQ:HOUR – Get Free Report) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 26,920 shares, a drop of 61.1% from the July 15th total of 69,284 shares. Based on an average daily volume of 25,359 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.5% of the shares of the company are sold short.

Hour Loop Stock Up 4.3%

Shares of HOUR stock opened at $1.97 on Friday. Hour Loop has a fifty-two week low of $1.24 and a fifty-two week high of $6.84. The stock has a market cap of $69.34 million, a P/E ratio of 49.26 and a beta of 1.38. The business has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $1.94.

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Hour Loop (NASDAQ:HOUR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Hour Loop had a net margin of 1.14% and a return on equity of 23.34%. The company had revenue of $33.94 million for the quarter, compared to the consensus estimate of $29.66 million.

Institutional Investors Weigh In On Hour Loop

A hedge fund recently bought a new stake in Hour Loop stock. Virtu Financial LLC purchased a new stake in Hour Loop, Inc. (NASDAQ:HOUR – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,380 shares of the company’s stock, valued at approximately $26,000. 0.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

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Hour Loop Company Profile

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Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.

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