Short Interest in Express, Inc. (NYSE:EXPR) Increases By 21.5%

Express, Inc. (NYSE:EXPR) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 6,560,000 shares, a growth of 21.5% from the March 31st total of 5,400,000 shares. Based on an average daily trading volume, of 28,500,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 10.7% of the shares of the stock are sold short.

A number of brokerages recently weighed in on EXPR. Zacks Investment Research lowered shares of Express from a “hold” rating to a “sell” rating in a research note on Monday, March 15th. B. Riley upped their price objective on shares of Express from $1.50 to $3.50 and gave the company a “neutral” rating in a report on Thursday, March 11th.

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in Express by 8.5% during the 4th quarter. SG Americas Securities LLC now owns 41,437 shares of the company’s stock worth $38,000 after purchasing an additional 3,262 shares during the last quarter. Virtu Financial LLC purchased a new position in Express in the 4th quarter valued at $38,000. ExodusPoint Capital Management LP purchased a new position in Express during the 4th quarter worth $60,000. Public Employees Retirement System of Ohio lifted its stake in shares of Express by 27.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 84,410 shares of the company’s stock worth $77,000 after acquiring an additional 17,983 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Express during the fourth quarter worth about $80,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE EXPR traded up $0.08 during mid-day trading on Tuesday, reaching $3.19. 100,170 shares of the company’s stock were exchanged, compared to its average volume of 23,621,117. The company’s 50-day moving average is $3.86 and its 200-day moving average is $2.31. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.41 and a current ratio of 0.96. The firm has a market capitalization of $207.27 million, a price-to-earnings ratio of -0.41 and a beta of 3.09. Express has a 52-week low of $0.57 and a 52-week high of $13.97.

Express (NYSE:EXPR) last posted its earnings results on Tuesday, March 9th. The company reported ($0.66) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.19. Express had a negative net margin of 35.66% and a negative return on equity of 119.08%. The company had revenue of $430.34 million for the quarter, compared to analysts’ expectations of $438.61 million. As a group, equities analysts predict that Express will post -4.88 earnings per share for the current fiscal year.

About Express

Express, Inc operates as an apparel and accessories retailer. It offers apparel and accessories for women and men for various occasions. The company sells its products through its e-commerce Website, express.com; and mobile app, as well as franchisees Express locations in Latin America. As of October 31, 2020, it operated 592 stores comprising 378 retail stores and 214 factory outlet stores in the United States and Puerto Rico, as well as an online store.

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