iMedia Brands, Inc. (NASDAQ:IMBI) Short Interest Down 20.2% in February

iMedia Brands, Inc. (NASDAQ:IMBI) saw a significant decrease in short interest in February. As of February 12th, there was short interest totalling 44,300 shares, a decrease of 20.2% from the January 28th total of 55,500 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 112,600 shares, the days-to-cover ratio is currently 0.4 days.

iMedia Brands stock opened at $6.91 on Monday. The company has a market cap of $89.96 million, a price-to-earnings ratio of -2.03 and a beta of 2.70. The firm’s fifty day moving average is $6.51 and its 200 day moving average is $5.99. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.91. iMedia Brands has a 52-week low of $1.35 and a 52-week high of $9.15.

Separately, DA Davidson upped their price target on shares of iMedia Brands from $12.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, February 10th.

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in iMedia Brands during the fourth quarter valued at $90,000. Granite Point Capital Management L.P. bought a new position in iMedia Brands during the third quarter valued at $145,000. Acadian Asset Management LLC bought a new position in iMedia Brands during the third quarter valued at $152,000. Aristides Capital LLC bought a new position in iMedia Brands during the third quarter valued at $337,000. Finally, Garnet Equity Capital Holdings Inc. bought a new position in iMedia Brands during the third quarter valued at $986,000. Institutional investors and hedge funds own 17.28% of the company’s stock.

About iMedia Brands

iMedia Brands, Inc operates as a multiplatform interactive digital commerce company in the United States. The company markets, sells, and distributes products to consumers through television, online, mobile, and social media in various merchandise categories, such as jewelry and watches, which include silver, gold, and gemstones to simulated diamonds; home and consumer electronics comprising home décor, bed and bath textiles, cookware, kitchen electrics, tabletop accessories, and home furnishings; beauty products, such as skincare, cosmetics, hair care, and bath and body products; and fashion and accessories, including apparel, outerwear, intimates, handbags, accessories, and footwear.

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