Hour Loop, Inc. (NASDAQ:HOUR) Sees Significant Decline in Short Interest

Hour Loop, Inc. (NASDAQ:HOUR) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 14,800 shares, a drop of 31.5% from the February 29th total of 21,600 shares. Based on an average daily volume of 39,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.9% of the company’s shares are short sold.

Institutional Investors Weigh In On Hour Loop

An institutional investor recently raised its position in Hour Loop stock. UBS Group AG increased its stake in shares of Hour Loop, Inc. (NASDAQ:HOUR) by 271.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,699 shares of the company’s stock after acquiring an additional 10,014 shares during the period. UBS Group AG’s holdings in Hour Loop were worth $35,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.31% of the company’s stock.

Hour Loop Price Performance

NASDAQ HOUR traded down $0.10 during mid-day trading on Friday, hitting $1.13. The company’s stock had a trading volume of 49,106 shares, compared to its average volume of 57,373. The firm has a market capitalization of $39.66 million, a P/E ratio of -16.14 and a beta of 1.33. Hour Loop has a 52-week low of $0.98 and a 52-week high of $4.89. The stock’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $1.40.

About Hour Loop

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells home/garden décor, toys, kitchenware, apparel, and electronics products. It sells its products through hourloop.com and third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.