Overstock.com (NASDAQ:OSTK) Shares Up 15.4%

Overstock.com Inc (NASDAQ:OSTK)’s share price shot up 15.4% on Thursday . The stock traded as high as $83.99 and last traded at $83.87. 12,056,827 shares changed hands during mid-day trading, an increase of 175% from the average session volume of 4,377,668 shares. The stock had previously closed at $72.65.

A number of research firms have issued reports on OSTK. Needham & Company LLC initiated coverage on Overstock.com in a report on Monday, September 14th. They set a “buy” rating and a $96.00 target price for the company. BofA Securities started coverage on shares of Overstock.com in a report on Friday, September 4th. They issued a “neutral” rating and a $78.00 price objective on the stock. ValuEngine cut shares of Overstock.com from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Piper Sandler assumed coverage on shares of Overstock.com in a research note on Monday, August 17th. They issued an “overweight” rating and a $140.00 price target on the stock. Finally, Credit Suisse Group started coverage on shares of Overstock.com in a research note on Wednesday, September 16th. They set an “outperform” rating and a $91.00 price objective for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.25.

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.07. The stock’s fifty day moving average price is $86.09 and its 200-day moving average price is $41.26. The company has a market capitalization of $3.39 billion, a P/E ratio of -70.15 and a beta of 4.44.

Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.96. Overstock.com had a negative return on equity of 21.29% and a negative net margin of 2.05%. The firm had revenue of $783.00 million for the quarter, compared to the consensus estimate of $680.20 million. During the same quarter in the previous year, the business earned ($0.69) earnings per share. The business’s revenue was up 109.8% compared to the same quarter last year. On average, research analysts predict that Overstock.com Inc will post -0.29 EPS for the current fiscal year.

In other news, insider Meghan Tuohig sold 750 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $36.20, for a total transaction of $27,150.00. Following the transaction, the insider now owns 13,985 shares in the company, valued at $506,257. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carter Paul Lee sold 10,000 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the insider now owns 17,187 shares of the company’s stock, valued at $1,289,025. The disclosure for this sale can be found here. Insiders have sold a total of 20,014 shares of company stock valued at $1,558,832 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Overstock.com by 12.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,681 shares of the company’s stock valued at $33,000 after purchasing an additional 749 shares during the period. Parallel Advisors LLC acquired a new position in Overstock.com in the 2nd quarter valued at $49,000. Deutsche Bank AG lifted its position in shares of Overstock.com by 23.8% during the 1st quarter. Deutsche Bank AG now owns 11,216 shares of the company’s stock valued at $55,000 after acquiring an additional 2,157 shares during the period. Rockbridge Investment Management LCC acquired a new stake in shares of Overstock.com during the 2nd quarter worth $62,000. Finally, Two Sigma Investments LP bought a new position in shares of Overstock.com in the first quarter worth $67,000. 61.38% of the stock is owned by institutional investors.

About Overstock.com (NASDAQ:OSTK)

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home d├ęcor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

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