Overstock.com Inc (NASDAQ:OSTK) Short Interest Down 17.1% in July

Overstock.com Inc (NASDAQ:OSTK) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 14,736,000 shares, a drop of 17.1% from the June 30th total of 17,772,500 shares. Currently, 60.8% of the shares of the company are sold short. Based on an average daily volume of 4,630,000 shares, the short-interest ratio is presently 3.2 days.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Maxim Group reaffirmed a “buy” rating and issued a $40.00 price objective (up previously from $34.00) on shares of Overstock.com in a report on Friday, August 9th. ValuEngine raised shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Finally, DA Davidson set a $48.00 price objective on shares of Overstock.com and gave the company a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Overstock.com currently has a consensus rating of “Buy” and a consensus target price of $44.00.

In other news, Director Joseph J. Tabacco, Jr. acquired 25,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was bought at an average price of $10.48 per share, with a total value of $262,000.00. Following the completion of the acquisition, the director now owns 66,033 shares of the company’s stock, valued at $692,025.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was purchased at an average cost of $10.45 per share, with a total value of $418,000.00. Following the acquisition, the director now directly owns 66,033 shares of the company’s stock, valued at approximately $690,044.85. The disclosure for this purchase can be found here. Company insiders own 19.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Investors Research Corp acquired a new stake in shares of Overstock.com in the first quarter valued at about $28,000. Captrust Financial Advisors acquired a new stake in shares of Overstock.com in the second quarter valued at about $41,000. Equitec Specialists LLC acquired a new stake in shares of Overstock.com in the second quarter valued at about $42,000. TRUE Private Wealth Advisors acquired a new stake in shares of Overstock.com in the second quarter valued at about $44,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in shares of Overstock.com in the second quarter valued at about $45,000. Institutional investors and hedge funds own 61.58% of the company’s stock.

OSTK traded up $2.49 on Thursday, reaching $18.46. The stock had a trading volume of 10,699,107 shares, compared to its average volume of 3,452,263. Overstock.com has a 12-month low of $8.96 and a 12-month high of $32.40. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $18.73 and its two-hundred day moving average price is $16.22. The company has a market cap of $881.17 million, a P/E ratio of -2.97 and a beta of 2.40.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.23. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 64.85%. The company had revenue of $373.70 million during the quarter, compared to analysts’ expectations of $376.66 million. During the same quarter in the previous year, the company earned ($2.20) earnings per share. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. As a group, analysts predict that Overstock.com will post -3.31 earnings per share for the current year.

Overstock.com Company Profile

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

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