iMedia Brands (NASDAQ:IMBI) Short Interest Update

iMedia Brands (NASDAQ:IMBI) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 95,400 shares, a drop of 10.2% from the January 15th total of 106,200 shares. Based on an average trading volume of 288,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.4% of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of IMBI. Towerview LLC acquired a new position in iMedia Brands in the third quarter valued at $471,000. Patriot Financial Group Insurance Agency LLC acquired a new position in iMedia Brands in the third quarter valued at $98,000. California Public Employees Retirement System acquired a new position in iMedia Brands in the third quarter valued at $75,000. Teton Advisors Inc. acquired a new position in iMedia Brands in the third quarter valued at $120,000. Finally, Miracle Mile Advisors LLC acquired a new position in iMedia Brands in the third quarter valued at $79,000.

A number of brokerages recently weighed in on IMBI. ValuEngine upgraded iMedia Brands from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. DA Davidson began coverage on iMedia Brands in a report on Friday, December 20th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Lake Street Capital began coverage on iMedia Brands in a report on Monday, November 25th. They issued a “buy” rating and a $1.50 target price on the stock.

iMedia Brands stock traded down $0.03 during midday trading on Friday, reaching $3.64. The stock had a trading volume of 31,476 shares. iMedia Brands has a twelve month low of $2.82 and a twelve month high of $7.30. The firm has a 50-day moving average price of $3.74.

iMedia Brands (NASDAQ:IMBI) last issued its earnings results on Wednesday, November 20th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $115.16 million during the quarter.

iMedia Brands Company Profile

iMedia Brands, Inc operates as a multiplatform interactive digital commerce company in the United States. The company markets, sells, and distributes products to consumers through television, online, mobile, and social media in various merchandise categories, such as jewelry and watches, which include silver, gold, and gemstones to simulated diamonds; home and consumer electronics comprising home d├ęcor, bed and bath textiles, cookware, kitchen electrics, tabletop accessories, and home furnishings; beauty products, such as skincare, cosmetics, hair care, and bath and body products; and fashion and accessories, including apparel, outerwear, intimates, handbags, accessories, and footwear.

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