Short Interest in Cherokee Inc (CHKE) Drops By 33.9%

Cherokee Inc (NASDAQ:CHKE) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 500,711 shares, a decrease of 33.9% from the November 30th total of 757,958 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average trading volume of 164,348 shares, the days-to-cover ratio is presently 3.0 days.

CHKE has been the topic of several recent analyst reports. FBR & Co restated a “buy” rating and issued a $8.00 price objective on shares of Cherokee in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of Cherokee from a “hold” rating to a “strong sell” rating in a report on Monday, December 11th. Roth Capital reduced their target price on shares of Cherokee from $10.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, September 28th. ValuEngine upgraded shares of Cherokee from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, B. Riley reiterated a “buy” rating on shares of Cherokee in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $7.19.

Shares of Cherokee (NASDAQ:CHKE) opened at $1.90 on Monday. The stock has a market cap of $26.51, a P/E ratio of -1.08 and a beta of 1.18. Cherokee has a fifty-two week low of $1.66 and a fifty-two week high of $11.15.

Cherokee (NASDAQ:CHKE) last released its earnings results on Wednesday, December 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.12). The business had revenue of $11.04 million for the quarter, compared to analyst estimates of $9.90 million. Cherokee had a negative return on equity of 0.68% and a negative net margin of 42.20%. Cherokee’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. research analysts expect that Cherokee will post -0.1 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CHKE. Northern Trust Corp lifted its holdings in Cherokee by 1.7% during the 2nd quarter. Northern Trust Corp now owns 30,839 shares of the company’s stock worth $215,000 after buying an additional 504 shares in the last quarter. Marathon Capital Management acquired a new stake in Cherokee during the 2nd quarter worth approximately $287,000. Trellus Management Company LLC lifted its holdings in Cherokee by 53.3% during the 3rd quarter. Trellus Management Company LLC now owns 115,000 shares of the company’s stock worth $316,000 after buying an additional 40,000 shares in the last quarter. Martin & Co. Inc. TN lifted its holdings in Cherokee by 1.3% during the 2nd quarter. Martin & Co. Inc. TN now owns 60,355 shares of the company’s stock worth $419,000 after buying an additional 800 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Cherokee by 3.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock worth $451,000 after buying an additional 2,258 shares in the last quarter. Institutional investors own 61.46% of the company’s stock.

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About Cherokee

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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