It is trading at $4.55 which is just a bit below $8.18, the 50 day moving average and which is slightly below the 200 day moving average of $8.90. The 50 day moving average went down $-3.68 or -44.99% and the 200 day average was down $-4.40. Trading was heavy with 484K shares changing hands on Wednesday. Shares saw a steep increase in trading volume of 923.10% over the normal average daily volume.
Traders are a little more bullish on shares of Cherokee Inc. recently if you pay attention to the decrease in short interest. The firm experienced a fall in short interest of -7.66% as of May 31, 2017 from the last reporting period. Short shares fell 34,708 over that timeframe. The short-interest ratio decreased to 3.4 and the percentage of shorted shares was 0.03% on May 31.
Here is the rundown on market activity for Cherokee Inc. (NASDAQ:CHKE). Jess M. Ravich, Director disclosed the purchase of 101,602 shares of CHKE stock. The shares were bought on November 29th for an average price of $9.50. The Director now owns $3,247,556 of the stock according to the SEC filing. Director Jess M. Ravich acquired 13,130 shares at an average price of $12.69 on Wed the 15th. That brings Ravich’s holdings to $3,029,687 as recorded in a recent Form 4 SEC filing.
The following firms have also recently changed their position in CHKE. As of quarter end Morgan Stanley had bought 132 shares growing its position 21.1%. The value of the company’s investment in Cherokee Inc. decreased from $7,000 to $7,000 decreasing 0.0% for the reporting period. Tower Research Capital LLC (trc) bolstered its ownership by buying 3,118 shares an increase of 632.5%. Tower Research Capital LLC (trc) owns 3,611 shares worth $31,000. The value of the position overall is up by 520.0%.
Goldman Sachs Group Inc trimmed its position by shedding 18,824 shares a decrease of 60.7% from 12/31/2016 to 03/31/2017. Goldman Sachs Group Inc controls 12,205 shares with a value of $105,000. The total value of its holdings decreased 67.8%. Perritt Capital Management Inc added to its stake by buying 55,773 shares an increase of 17.9% as of 03/31/2017. Perritt Capital Management Inc now controls 366,593 shares valued at $3,153,000. The total value of its holdings decreased 3.4%.
On September 17 Roth Capital kept the company rating at “Buy” but lowered the price expectation to $20.00 from $32.00. September 11 investment analysts at B. Riley maintained a company rating of “Buy” and moved down the price target from $34.00 to $27.00.
On September 11 Wunderlich kept the stock rating at “Buy” and lowered the price expectation from $0.00 to $26.00. On July 1 B. Riley left the company rating at “Buy” but moved up the price target from $27.00 to $34.00.
June 12 investment analysts at Wunderlich left the stock rating at “Buy” and raised the price target to $30.00 from $27.00. December 11 investment analysts at Wunderlich held the stock rating at “Buy” but raised the price target to $24.00 from $21.00.
The company is now up since yesterday’s close of $4.15. As of the last earnings report the EPS was $-1.31 and is estimated to be $0.74 for the current year with 12,951,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.15 and the next full year EPS is projected to be $0.91.
Cherokee Inc., launched on May 17, 1988, is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors. The Company operates in the segment of marketing and licensing of brand names and trademarks for apparel, footwear and accessories. The Company is a licensor of style focused lifestyle brands for apparel, footwear, home products and accessories. It performs a range of services, including marketing, solicitation of licensees, contract negotiations, and administration and maintenance of license or distribution agreements, among others. The Company operates in the United States, Canada, Latin America, Asia, the United Kingdom and Europe. Its brands are licensed with retail and wholesale licensees in over 50 countries and approximately 9,000 retail locations..