Cherokee Inc. (CHKE) Short Interest Update
Cherokee Inc. (NASDAQ:CHKE) was the recipient of a large growth in short interest in October. As of October 13th, there was short interest totalling 830,296 shares, a growth of 42.9% from the September 29th total of 581,226 shares. Based on an average daily volume of 186,558 shares, the short-interest ratio is presently 4.5 days. Approximately 6.5% of the company’s shares are short sold.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Cherokee from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 7th. FBR & Co reissued an “outperform” rating and set a $8.00 price objective on shares of Cherokee in a research note on Tuesday, July 11th. Finally, Roth Capital dropped their price objective on shares of Cherokee from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.19.
Large investors have recently added to or reduced their stakes in the company. HCSF Management LLC boosted its holdings in shares of Cherokee by 5.9% in the 2nd quarter. HCSF Management LLC now owns 1,654,397 shares of the company’s stock valued at $11,498,000 after buying an additional 91,780 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Cherokee in the 1st quarter valued at about $538,000. Trellus Management Company LLC boosted its holdings in shares of Cherokee by 53.3% in the 3rd quarter. Trellus Management Company LLC now owns 115,000 shares of the company’s stock valued at $316,000 after buying an additional 40,000 shares in the last quarter. Connors Investor Services Inc. boosted its holdings in shares of Cherokee by 49.5% in the 2nd quarter. Connors Investor Services Inc. now owns 220,646 shares of the company’s stock valued at $1,533,000 after buying an additional 73,052 shares in the last quarter. Finally, Penn Capital Management Co. Inc. boosted its holdings in shares of Cherokee by 65.3% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 516,718 shares of the company’s stock valued at $3,591,000 after buying an additional 204,146 shares in the last quarter. Institutional investors and hedge funds own 72.49% of the company’s stock.
Shares of Cherokee (CHKE) opened at 2.40 on Friday. Cherokee has a 1-year low of $2.10 and a 1-year high of $11.75. The company’s market cap is $33.48 million. The company’s 50-day moving average is $2.95 and its 200 day moving average is $5.81.
Cherokee (NASDAQ:CHKE) last posted its earnings results on Thursday, September 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $7.81 million. Cherokee had a negative net margin of 42.78% and a positive return on equity of 1.52%. The company’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. Equities analysts anticipate that Cherokee will post $0.17 EPS for the current year.
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Cherokee Company Profile
Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.
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