Xcel Brands (NASDAQ:XELB) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Xcel Brands (NASDAQ:XELB) in a research note issued to investors on Friday. The firm set a “sell” rating on the textile maker’s stock.

Xcel Brands Price Performance

XELB stock opened at $0.73 on Friday. The business has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $0.71. Xcel Brands has a twelve month low of $0.58 and a twelve month high of $1.70. The company has a market capitalization of $17.29 million, a P/E ratio of -0.81 and a beta of 1.34. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 0.08.

Xcel Brands (NASDAQ:XELB) last posted its quarterly earnings data on Wednesday, August 14th. The textile maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.08. The firm had revenue of $2.95 million during the quarter, compared to the consensus estimate of $2.98 million. Xcel Brands had a negative return on equity of 20.74% and a negative net margin of 179.30%. During the same period in the prior year, the business earned ($0.09) EPS. As a group, equities analysts anticipate that Xcel Brands will post -0.26 EPS for the current year.

Hedge Funds Weigh In On Xcel Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new stake in shares of Xcel Brands during the 1st quarter worth about $600,000. Perritt Capital Management Inc. raised its holdings in Xcel Brands by 31.6% in the first quarter. Perritt Capital Management Inc. now owns 606,858 shares of the textile maker’s stock valued at $473,000 after buying an additional 145,833 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in Xcel Brands during the first quarter valued at approximately $86,000. Institutional investors and hedge funds own 18.55% of the company’s stock.

About Xcel Brands

Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston brand, the C Wonder, the TowerHill by Christie Brinkley brand (the CB brand), and other brands, as well as manages the Longaberger brand.