MYT Netherlands Parent B.V. (NYSE:MYTE) Stock Price Down 7.3% – Here’s What Happened

MYT Netherlands Parent B.V. (NYSE:MYTE) shares traded down 7.3% on Friday . The stock traded as low as $9.56 and last traded at $9.81. 143,965 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 180,115 shares. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

Separately, TD Cowen upgraded MYT Netherlands Parent B.V. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $14.00 in a report on Monday.

MYT Netherlands Parent B.V. Stock Down 5.5 %

The firm has a fifty day simple moving average of $9.43 and a 200 day simple moving average of $7.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.22 and a current ratio of 1.78. The company has a market cap of $852.40 million, a PE ratio of -23.44 and a beta of 0.96.

MYT Netherlands Parent B.V. (NYSE:MYTE) last released its earnings results on Tuesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.10. MYT Netherlands Parent B.V. had a negative net margin of 3.98% and a negative return on equity of 5.88%. Equities research analysts predict that MYT Netherlands Parent B.V. will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in MYT Netherlands Parent B.V. by 9,153.3% during the fourth quarter. Bank of America Corp DE now owns 4,164 shares of the company’s stock valued at $30,000 after acquiring an additional 4,119 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of MYT Netherlands Parent B.V. during the 4th quarter worth about $80,000. XTX Topco Ltd purchased a new stake in shares of MYT Netherlands Parent B.V. during the 4th quarter worth about $96,000. BNP Paribas Financial Markets acquired a new stake in MYT Netherlands Parent B.V. during the 4th quarter worth approximately $106,000. Finally, Coronation Fund Managers Ltd. purchased a new position in MYT Netherlands Parent B.V. in the fourth quarter valued at approximately $124,000. 10.07% of the stock is owned by hedge funds and other institutional investors.

About MYT Netherlands Parent B.V.

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.