Torrid (NYSE:CURV) Sees Strong Trading Volume – Time to Buy?

Shares of Torrid Holdings Inc. (NYSE:CURV) saw unusually-strong trading volume on Tuesday . Approximately 447,449 shares traded hands 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.

Analysts Set New Price Targets

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

Torrid Price Performance

The firm has a market capitalization of $510.17 million, a P/E ratio of 32.47, a P/E/G ratio of 1.20 and a beta of 2.01. The stock’s fifty day simple moving average is $4.01 and its 200 day simple moving average is $5.57.

Hedge Funds Weigh In On Torrid

A number of large investors have recently made changes to their positions in the business. Centiva Capital LP purchased a new position in Torrid during the 3rd quarter worth $3,930,000. GSA Capital Partners LLP boosted its holdings in Torrid by 87.3% in the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after acquiring an additional 50,439 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Torrid during the third quarter worth about $166,000. XTX Topco Ltd acquired a new position in shares of Torrid during the third quarter valued at about $145,000. Finally, Geode Capital Management LLC raised its position in shares of Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after purchasing an additional 26,703 shares during the last quarter. 81.82% of the stock is owned by institutional investors and hedge funds.

About Torrid

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.