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

StockNews.com assumed coverage on shares of LightInTheBox (NYSE:LITB) in a research note released on Friday. The brokerage issued a buy rating on the technology company’s stock.

LightInTheBox Trading Up 10.2 %

Shares of NYSE:LITB opened at $1.40 on Friday. The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.80. LightInTheBox has a twelve month low of $0.91 and a twelve month high of $6.00. The company has a market capitalization of $25.67 million, a PE ratio of -3.99 and a beta of 0.91.

LightInTheBox (NYSE:LITB) last announced its quarterly earnings results on Tuesday, March 25th. The technology company reported $0.02 earnings per share for the quarter. The company had revenue of $57.75 million during the quarter.

Institutional Inflows and Outflows

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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned by institutional investors.

About LightInTheBox

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.