Vera Bradley, Inc. (NASDAQ:VRA) Short Interest Up 22.8% in March

Vera Bradley, Inc. (NASDAQ:VRA) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 1,405,998 shares, an increase of 22.8% from the February 26th total of 1,144,785 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 748,604 shares, the days-to-cover ratio is currently 1.9 days.

Vera Bradley Price Performance

Shares of NASDAQ VRA opened at $3.16 on Wednesday. The stock has a market capitalization of $88.39 million, a P/E ratio of -1.84 and a beta of 1.76. Vera Bradley has a one year low of $1.39 and a one year high of $3.80. The firm’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $2.54.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Thursday, March 12th. The textile maker reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Vera Bradley had a negative net margin of 17.74% and a negative return on equity of 12.00%. The firm had revenue of $84.89 million during the quarter, compared to analyst estimates of $79.73 million. As a group, equities analysts expect that Vera Bradley will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Vera Bradley

Several institutional investors have recently added to or reduced their stakes in VRA. Jump Financial LLC bought a new position in shares of Vera Bradley during the second quarter valued at about $28,000. Qube Research & Technologies Ltd purchased a new stake in Vera Bradley during the 3rd quarter valued at about $49,000. Emissary Wealth LLC purchased a new stake in Vera Bradley during the 4th quarter valued at about $51,000. Simplex Trading LLC grew its position in Vera Bradley by 55.0% during the 4th quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker’s stock worth $85,000 after acquiring an additional 12,442 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in Vera Bradley by 266.8% during the 2nd quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker’s stock worth $91,000 after acquiring an additional 29,823 shares during the last quarter. 59.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRA. Zacks Research upgraded shares of Vera Bradley from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Vera Bradley from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Vera Bradley Company Profile

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.