Vera Bradley (NASDAQ:VRA) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Vera Bradley, Inc. (NASDAQ:VRA)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.24 and traded as high as $3.21. Vera Bradley shares last traded at $3.20, with a volume of 854,247 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Vera Bradley from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Bradley in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Vera Bradley presently has an average rating of “Reduce”.

Vera Bradley Price Performance

The firm has a market capitalization of $89.44 million, a PE ratio of -0.91 and a beta of 1.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 2.52. The stock has a fifty day moving average price of $2.45 and a 200-day moving average price of $2.24.

Vera Bradley (NASDAQ:VRA) last released its quarterly earnings results on Thursday, December 11th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. Vera Bradley had a negative net margin of 34.23% and a negative return on equity of 18.30%. The business had revenue of $62.25 million for the quarter, compared to analyst estimates of $61.69 million. During the same period in the previous year, the company earned ($0.27) earnings per share. Sell-side analysts forecast that Vera Bradley, Inc. will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Vera Bradley news, Director Andrew Meslow purchased 50,000 shares of the stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $1.93 per share, with a total value of $96,500.00. Following the completion of the acquisition, the director owned 600,000 shares in the company, valued at $1,158,000. This trade represents a 9.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Vera Bradley

Several hedge funds have recently modified their holdings of VRA. Catalyst Funds Management Pty Ltd purchased a new position in Vera Bradley in the 2nd quarter valued at about $25,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Vera Bradley during the second quarter valued at approximately $26,000. Jump Financial LLC acquired a new position in shares of Vera Bradley during the second quarter valued at approximately $28,000. Belpointe Asset Management LLC purchased a new position in shares of Vera Bradley in the first quarter valued at approximately $29,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Vera Bradley in the first quarter worth approximately $29,000. 59.88% of the stock is owned by hedge funds and other institutional investors.

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.