Short Interest in Reformation Inc. (NYSE:REF) Grows By 147.4%

Reformation Inc. (NYSE:REF) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 879,261 shares, a growth of 147.4% from the July 30th total of 355,460 shares. Based on an average daily trading volume, of 489,089 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on REF. BTIG Research assumed coverage on Reformation in a research report on Monday, August 24th. They issued a “buy” rating and a $20.00 price objective on the stock. William Blair assumed coverage on shares of Reformation in a report on Monday, August 24th. They issued an “outperform” rating for the company. Zacks Research raised Reformation to a “hold” rating in a research report on Tuesday. Morgan Stanley assumed coverage on Reformation in a report on Monday, August 24th. They issued an “equal weight” rating and a $16.00 price objective for the company. Finally, Telsey Advisory Group assumed coverage on Reformation in a research note on Monday, August 24th. They issued an “outperform” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Key Stories Impacting Reformation

Here are the key news stories impacting Reformation this week:

• Positive Sentiment: Reformation is reportedly preparing to open a high-tech store at Toronto’s Eaton Centre, expanding its physical retail presence and potentially increasing brand visibility and sales in Canada. Internet-famous fashion brand opening high-tech new store in Toronto mall

Reformation Price Performance

Shares of REF traded up $0.29 during mid-day trading on Friday, hitting $14.99. 267,149 shares of the company traded hands, compared to its average volume of 495,826. Reformation has a 1 year low of $12.83 and a 1 year high of $17.26.

Insiders Place Their Bets

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $13.95, for a total value of $41,671,426.05. Following the transaction, the insider owned 29,091,749 shares in the company, valued at approximately $405,829,898.55. The trade was a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yael Aflalo sold 1,204,029 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the transaction, the director directly owned 11,725,803 shares of the company’s stock, valued at approximately $163,574,951.85. This trade represents a 9.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.