Fred’s (NASDAQ:FRED) Sees Large Volume Increase

Fred’s, Inc. (NASDAQ:FRED) saw unusually-high trading volume on Thursday . Approximately 4,224,896 shares traded hands during trading, an increase of 456% from the previous session’s volume of 759,964 shares.The stock last traded at $0.54 and had previously closed at $0.37.

Separately, ValuEngine raised shares of Fred’s from a “hold” rating to a “buy” rating in a research report on Monday, April 1st.

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 1.11. The business has a 50-day moving average of $0.44.

Fred’s (NASDAQ:FRED) last posted its earnings results on Monday, May 6th. The company reported ($1.86) EPS for the quarter. The business had revenue of $307.09 million during the quarter. Fred’s had a negative return on equity of 122.40% and a negative net margin of 1.84%.

A number of hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System grew its position in Fred’s by 4.0% in the fourth quarter. California Public Employees Retirement System now owns 398,173 shares of the company’s stock worth $753,000 after acquiring an additional 15,195 shares in the last quarter. Citigroup Inc. grew its position in Fred’s by 130.1% in the fourth quarter. Citigroup Inc. now owns 35,900 shares of the company’s stock worth $68,000 after acquiring an additional 20,300 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Fred’s during the 4th quarter worth $43,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Fred’s during the 4th quarter worth $135,000. Finally, Royce & Associates LP boosted its holdings in shares of Fred’s by 15.2% during the 4th quarter. Royce & Associates LP now owns 1,818,269 shares of the company’s stock worth $3,437,000 after buying an additional 239,900 shares during the period. 68.66% of the stock is owned by institutional investors.

Fred’s Company Profile (NASDAQ:FRED)

Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers health, beauty, and personal care products; household cleaning supplies, disposable diapers, pet foods, and paper products; and various general merchandise, and food and beverage products to low, middle, and fixed income families located in small- to medium-sized towns.

Further Reading: Are sell-side analysts objective?

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