Express, Inc. (NYSE:EXPR) was the recipient of a large growth in short interest during the month of May. As of May 28th, there was short interest totalling 6,150,000 shares, a growth of 34.6% from the May 13th total of 4,570,000 shares. Based on an average daily trading volume, of 13,670,000 shares, the short-interest ratio is currently 0.4 days. Approximately 10.4% of the company’s shares are sold short.
In other Express news, COO Matthew C. Moellering sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 26th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief operating officer now owns 717,947 shares in the company, valued at approximately $3,589,735. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew C. Moellering sold 33,222 shares of the company’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $6.50, for a total value of $215,943.00. Following the completion of the sale, the chief operating officer now owns 684,725 shares in the company, valued at approximately $4,450,712.50. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Contrarius Investment Management Ltd raised its stake in Express by 3.6% during the 1st quarter. Contrarius Investment Management Ltd now owns 6,275,235 shares of the company’s stock worth $25,226,000 after buying an additional 218,135 shares during the period. BlackRock Inc. raised its stake in Express by 17.7% during the 1st quarter. BlackRock Inc. now owns 4,933,837 shares of the company’s stock worth $19,834,000 after buying an additional 743,195 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Express by 28.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,758,009 shares of the company’s stock worth $4,330,000 after buying an additional 1,060,131 shares during the period. Millennium Management LLC raised its stake in shares of Express by 607.6% in the first quarter. Millennium Management LLC now owns 2,494,380 shares of the company’s stock worth $10,027,000 after purchasing an additional 2,141,847 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Express by 8.2% in the first quarter. Geode Capital Management LLC now owns 1,016,575 shares of the company’s stock worth $4,086,000 after purchasing an additional 76,849 shares during the last quarter. 54.11% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on EXPR. Zacks Investment Research upgraded Express from a “sell” rating to a “hold” rating in a research report on Tuesday, June 8th. B. Riley upped their target price on Express from $3.50 to $4.50 and gave the company a “buy” rating in a research report on Friday, June 4th.
EXPR stock opened at $4.65 on Friday. The business’s 50 day moving average price is $3.93. Express has a fifty-two week low of $0.57 and a fifty-two week high of $13.97. The company has a current ratio of 0.87, a quick ratio of 0.39 and a debt-to-equity ratio of 19.82. The firm has a market cap of $308.30 million, a P/E ratio of -1.02 and a beta of 1.80.
Express (NYSE:EXPR) last posted its quarterly earnings results on Wednesday, June 2nd. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.03. Express had a negative return on equity of 545.80% and a negative net margin of 22.11%. Equities analysts predict that Express will post -0.81 EPS for the current year.
About Express
Express, Inc offers apparel and accessories for women and men for various occasions under the Express brand. The company sells its products through its eCommerce website, express.com; and mobile app, as well as franchisees Express locations in Latin America. As of January 30, 2021, it operated 570 stores in 46 states across the United States, as well as in Puerto Rico.
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