Express, Inc. (NYSE:EXPR) Short Interest Down 21.5% in September

Express, Inc. (NYSE:EXPR) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 11,480,000 shares, a decline of 21.5% from the September 15th total of 14,630,000 shares. Approximately 19.1% of the company’s shares are sold short. Based on an average trading volume of 3,370,000 shares, the days-to-cover ratio is currently 3.4 days.

EXPR remained flat at $$0.75 during midday trading on Friday. The company’s stock had a trading volume of 3,424,695 shares, compared to its average volume of 2,353,143. The business has a fifty day moving average of $0.85 and a 200 day moving average of $1.43. The stock has a market cap of $48.83 million, a price-to-earnings ratio of -0.12 and a beta of 2.07. The company has a quick ratio of 0.63, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. Express has a 12 month low of $0.61 and a 12 month high of $6.24.

Express (NYSE:EXPR) last announced its quarterly earnings results on Wednesday, August 26th. The company reported ($1.48) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.32). The company had revenue of $245.70 million for the quarter, compared to analyst estimates of $245.94 million. Express had a negative return on equity of 54.38% and a negative net margin of 26.21%. On average, research analysts anticipate that Express will post -3.72 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Express by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,218,267 shares of the company’s stock valued at $1,815,000 after acquiring an additional 40,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Express by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,844 shares of the company’s stock worth $50,000 after purchasing an additional 11,039 shares during the period. Geode Capital Management LLC boosted its position in shares of Express by 0.8% during the 1st quarter. Geode Capital Management LLC now owns 925,438 shares of the company’s stock valued at $1,378,000 after acquiring an additional 6,905 shares during the last quarter. Wells Fargo & Company MN lifted its position in Express by 139.6% in the 1st quarter. Wells Fargo & Company MN now owns 118,311 shares of the company’s stock worth $176,000 after buying an additional 417,371 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Express by 280.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 203,878 shares of the company’s stock worth $304,000 after buying an additional 150,317 shares during the last quarter.

A number of equities research analysts have weighed in on EXPR shares. B. Riley reiterated a “hold” rating and issued a $1.50 target price on shares of Express in a report on Friday, July 17th. MKM Partners decreased their price target on Express from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Thursday, August 27th. Finally, Zacks Investment Research downgraded Express from a “hold” rating to a “sell” rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $1.94.

Express Company Profile

Express, Inc operates as an apparel and accessories retailer. It offers apparel and accessories for women and men for various occasions. The company sells its products through its e-commerce Website, express.com; and mobile app, as well as franchisees Express locations in Latin America. As of February 1, 2020, it operated 381 primarily mall-based retail stores in the United States and Puerto Rico, as well as 214 factory outlet stores.

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