Short Interest in Xcel Brands, Inc. (NASDAQ:XELB) Decreases By 27.1%

Xcel Brands, Inc. (NASDAQ:XELB) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 120,800 shares, a drop of 27.1% from the August 15th total of 165,800 shares. Based on an average trading volume of 30,600 shares, the short-interest ratio is presently 3.9 days. Approximately 0.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Xcel Brands in a research report on Thursday. They set a “sell” rating for the company.

Xcel Brands Price Performance

NASDAQ:XELB opened at $0.73 on Friday. Xcel Brands has a 1 year low of $0.58 and a 1 year high of $1.70. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $0.69 and its 200 day simple moving average is $0.73.

Xcel Brands (NASDAQ:XELB) last issued its quarterly earnings results on Wednesday, August 14th. The textile maker reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.08. Xcel Brands had a negative return on equity of 20.74% and a negative net margin of 179.30%. The company had revenue of $2.95 million for the quarter, compared to the consensus estimate of $2.98 million. During the same period last year, the business posted ($0.09) earnings per share. As a group, sell-side analysts expect that Xcel Brands will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xcel Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Levin Capital Strategies L.P. acquired a new stake in Xcel Brands in the 1st quarter worth $86,000. Perritt Capital Management Inc. lifted its stake in shares of Xcel Brands by 31.6% in the first quarter. Perritt Capital Management Inc. now owns 606,858 shares of the textile maker’s stock valued at $473,000 after buying an additional 145,833 shares during the period. Finally, AWM Investment Company Inc. acquired a new stake in Xcel Brands during the first quarter worth about $600,000. Institutional investors and hedge funds own 18.55% of the company’s stock.

About Xcel Brands

Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston brand, the C Wonder, the TowerHill by Christie Brinkley brand (the CB brand), and other brands, as well as manages the Longaberger brand.