Lulu’s Fashion Lounge (NASDAQ:LVLU) Shares Up 3.2% – Here’s What Happened

Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) shares shot up 3.2% during trading on Thursday . The stock traded as high as $1.61 and last traded at $1.59. 6,494 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 23,390 shares. The stock had previously closed at $1.54.

Analyst Ratings Changes

Several brokerages have recently commented on LVLU. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Lulu’s Fashion Lounge in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their price target on shares of Lulu’s Fashion Lounge from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th.

Lulu’s Fashion Lounge Trading Down 0.5 %

The firm has a market cap of $65.35 million, a P/E ratio of -3.16 and a beta of 0.25. The company’s 50-day moving average is $1.42 and its two-hundred day moving average is $1.55.

Lulu’s Fashion Lounge (NASDAQ:LVLU) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.26) earnings per share for the quarter. Lulu’s Fashion Lounge had a negative net margin of 8.45% and a negative return on equity of 47.64%. The business had revenue of $91.97 million during the quarter, compared to the consensus estimate of $91.30 million. Research analysts anticipate that Lulu’s Fashion Lounge Holdings, Inc. will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Lulu’s Fashion Lounge

A hedge fund recently bought a new stake in Lulu’s Fashion Lounge stock. Sweeney & Michel LLC bought a new position in shares of Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,059 shares of the company’s stock, valued at approximately $71,000. Sweeney & Michel LLC owned approximately 0.12% of Lulu’s Fashion Lounge as of its most recent SEC filing. Hedge funds and other institutional investors own 73.79% of the company’s stock.

About Lulu’s Fashion Lounge

Lulu's Fashion Lounge Holdings, Inc operates as an online retailer of women's apparel, footwear, and accessories. The company offers formals, casuals, dresses, tops, bottoms, wedding dresses, rompers and jumpsits, intimates and sleepwear, swimwear, shoes, and accessories under the Lulus brand.