Short Interest in Farfetch Ltd (NYSE:FTCH) Expands By 14.9%
Farfetch Ltd (NYSE:FTCH) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 22,870,700 shares, an increase of 14.9% from the July 31st total of 19,912,000 shares. Approximately 17.9% of the shares of the stock are short sold. Based on an average trading volume of 3,520,000 shares, the days-to-cover ratio is presently 6.5 days.
NYSE FTCH traded up $0.01 during trading on Friday, hitting $9.99. 124,233 shares of the company traded hands, compared to its average volume of 3,237,781. Farfetch has a 12 month low of $8.82 and a 12 month high of $32.40. The business has a fifty day simple moving average of $13.30 and a 200 day simple moving average of $20.97. The company has a current ratio of 3.19, a quick ratio of 2.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.78 billion and a P/E ratio of -16.97.
Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The business had revenue of $209.30 million during the quarter, compared to the consensus estimate of $196.51 million. Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. The company’s revenue was up 42.7% compared to the same quarter last year. Equities research analysts predict that Farfetch will post -1.18 EPS for the current fiscal year.
Several analysts have recently commented on the company. Cowen decreased their target price on Farfetch from $33.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp assumed coverage on Farfetch in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $27.00 target price for the company. China Renaissance Securities reaffirmed a “hold” rating on shares of Farfetch in a research report on Friday, August 9th. Oppenheimer decreased their target price on Farfetch from $32.00 to $25.00 in a research report on Wednesday, August 14th. Finally, Bank of America decreased their target price on Farfetch from $33.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $24.23.
Farfetch Company Profile
Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.
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