Vipshop Holdings Ltd – (NYSE:VIPS) shares traded up 2.1% on Wednesday . The stock traded as high as $8.21 and last traded at $8.34. 3,347,114 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 7,351,019 shares. The stock had previously closed at $8.17.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Vipshop from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Saturday, April 27th. KeyCorp upped their target price on shares of Vipshop from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. ValuEngine lowered shares of Vipshop from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Credit Suisse Group lowered shares of Vipshop from a “neutral” rating to an “underperform” rating in a research report on Thursday, February 21st. Finally, JPMorgan Chase & Co. upgraded shares of Vipshop from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $6.50 to $11.00 in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $8.71.
The stock has a market capitalization of $5.38 billion, a PE ratio of 19.65 and a beta of 1.94.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Vipshop by 101.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,508 shares of the technology company’s stock valued at $25,000 after buying an additional 2,267 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Vipshop during the first quarter valued at about $71,000. Cigna Investments Inc. New purchased a new stake in Vipshop during the fourth quarter valued at about $58,000. Cadence Capital Management LLC purchased a new stake in Vipshop during the first quarter valued at about $95,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Vipshop during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 45.54% of the company’s stock.
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Vipshop Company Profile (NYSE:VIPS)
Vipshop Holdings Limited operates as an online discount retailer for various brands in the People's Republic of China. It operates in two segments, Vip.com and Internet Finance Business. The company offers women's apparel, such as casual wear, jeans, dresses, outerwear, swimsuits, lingerie, pajamas, and maternity clothes; men's apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; women and men casual and formal shoes; and accessories that include belts, jewelry, watches, and glasses for women and men.
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