Short Interest in The Lovesac Company (NASDAQ:LOVE) Rises By 25.6%

The Lovesac Company (NASDAQ:LOVE) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,870,000 shares, an increase of 25.6% from the February 28th total of 3,080,000 shares. Approximately 27.6% of the company’s stock are sold short. Based on an average daily trading volume, of 382,000 shares, the short-interest ratio is presently 10.1 days.

Lovesac Stock Up 3.4 %

LOVE traded up $0.60 during trading on Wednesday, reaching $18.26. 237,382 shares of the company were exchanged, compared to its average volume of 345,159. The company’s 50-day moving average is $20.78 and its two-hundred day moving average is $26.07. Lovesac has a 12-month low of $15.22 and a 12-month high of $39.49. The company has a market cap of $281.81 million, a price-to-earnings ratio of 53.71, a P/E/G ratio of 0.65 and a beta of 3.05.

Insider Activity

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the transaction, the director now owns 147,849 shares in the company, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.33% of the stock is currently owned by company insiders.

Institutional Trading of Lovesac

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Lovesac in the fourth quarter valued at approximately $26,000. AWM Investment Company Inc. increased its stake in Lovesac by 33.2% in the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock valued at $16,130,000 after acquiring an additional 170,045 shares during the last quarter. Squarepoint Ops LLC raised its position in Lovesac by 316.1% during the fourth quarter. Squarepoint Ops LLC now owns 116,829 shares of the company’s stock valued at $2,764,000 after purchasing an additional 88,753 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Lovesac during the fourth quarter worth about $265,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Lovesac by 181.7% in the 4th quarter. Two Sigma Investments LP now owns 86,640 shares of the company’s stock worth $2,050,000 after purchasing an additional 55,881 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. DA Davidson reissued a “buy” rating and issued a $35.00 price target on shares of Lovesac in a research report on Tuesday, March 25th. Roth Mkm boosted their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $38.33.

About Lovesac

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.