EVINE Live Inc. (EVLV) Receives “Buy” Rating from B. Riley
EVINE Live Inc. (NASDAQ:EVLV)‘s stock had its “buy” rating reissued by investment analysts at B. Riley in a research report issued to clients and investors on Wednesday. They presently have a $2.00 price target on the stock. B. Riley’s price target suggests a potential upside of 92.31% from the stock’s current price.
Several other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of EVINE Live from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of EVINE Live from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Maxim Group set a $3.00 price objective on shares of EVINE Live and gave the stock a “buy” rating in a research note on Tuesday, May 23rd.
Shares of EVINE Live (EVLV) traded down 2.80% on Wednesday, reaching $1.04. The company’s stock had a trading volume of 378,360 shares. The firm has a 50 day moving average of $1.21 and a 200 day moving average of $1.34. The company’s market cap is $63.41 million. EVINE Live has a 52-week low of $1.01 and a 52-week high of $2.40.
EVINE Live (NASDAQ:EVLV) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.01. The company had revenue of $156.30 million for the quarter, compared to analyst estimates of $153.59 million. EVINE Live had a negative return on equity of 7.89% and a negative net margin of 1.07%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share.
In related news, SVP Jean-Guillaume Sabatier sold 28,713 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $1.30, for a total value of $37,326.90. Following the sale, the senior vice president now owns 253,394 shares of the company’s stock, valued at $329,412.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Rosenblatt acquired 86,957 shares of EVINE Live stock in a transaction that occurred on Tuesday, May 23rd. The stock was acquired at an average cost of $1.15 per share, for a total transaction of $100,000.55. Following the purchase, the chief executive officer now owns 1,135,884 shares of the company’s stock, valued at $1,306,266.60. The disclosure for this purchase can be found here. Insiders own 4.15% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of EVINE Live during the second quarter worth approximately $1,658,000. Renaissance Technologies LLC boosted its stake in shares of EVINE Live by 23.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,087,956 shares of the company’s stock worth $1,632,000 after buying an additional 205,300 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of EVINE Live by 152.9% in the first quarter. Envestnet Asset Management Inc. now owns 157,615 shares of the company’s stock worth $184,000 after buying an additional 95,294 shares during the period. BlackRock Fund Advisors boosted its stake in shares of EVINE Live by 1.9% in the first quarter. BlackRock Fund Advisors now owns 1,232,543 shares of the company’s stock worth $1,442,000 after buying an additional 23,242 shares during the period. Finally, Clinton Group Inc. boosted its stake in shares of EVINE Live by 19.1% in the third quarter. Clinton Group Inc. now owns 1,907,642 shares of the company’s stock worth $4,369,000 after buying an additional 306,396 shares during the period. 41.90% of the stock is currently owned by institutional investors.
About EVINE Live
EVINE Live Inc is a digital commerce company. The Company operates through the digital commerce retailing segment. The Company offers a mix of brands directly to consumers in an engaging and informative shopping experience through television (TV), online and mobile devices. It operates an around the clock television shopping network, EVINE Live, which is distributed primarily on cable and satellite systems, through which the Company offers brand products in the categories of jewelry and watches, home and consumer electronics, beauty, and fashion and accessories.
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