StockNews.com Initiates Coverage on LightInTheBox (NYSE:LITB)

StockNews.com initiated coverage on shares of LightInTheBox (NYSE:LITB) in a research note issued on Saturday. The brokerage set a “buy” rating on the technology company’s stock.

LightInTheBox Trading Down 1.5 %

NYSE:LITB opened at $1.74 on Friday. The firm has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $3.22. LightInTheBox has a 1-year low of $1.56 and a 1-year high of $6.90. The stock has a market capitalization of $32.06 million, a PE ratio of -4.98 and a beta of 0.95.

Institutional Investors Weigh In On LightInTheBox

An institutional investor recently bought a new position in LightInTheBox stock. Garden State Investment Advisory Services LLC bought a new position in shares of LightInTheBox Holding Co., Ltd. (NYSE:LITB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,663 shares of the technology company’s stock, valued at approximately $34,000. Garden State Investment Advisory Services LLC owned about 0.06% of LightInTheBox at the end of the most recent quarter. 56.77% of the stock is currently owned by institutional investors and hedge funds.

LightInTheBox Company Profile

LightInTheBox Holding Co, Ltd., together with its subsidiaries, operates as an online retailer that delivers products directly to its consumers worldwide. The company provides apparel products; and other general merchandise products, such as small accessories and gadgets, home garden, toys and hobbies, electronics and communication devices, and other products.