Farfetch Ltd (NYSE:FTCH) Sees Large Growth in Short Interest

Farfetch Ltd (NYSE:FTCH) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 18,435,100 shares, a growth of 24.0% from the May 30th total of 14,872,900 shares. Based on an average daily volume of 3,300,000 shares, the short-interest ratio is currently 5.6 days. Currently, 13.5% of the company’s shares are sold short.

Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a research report on Friday, June 7th. KeyCorp reduced their price target on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Wells Fargo & Co set a $32.00 price target on Farfetch and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Finally, Credit Suisse Group raised their price target on Johnson & Johnson from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Farfetch presently has a consensus rating of “Buy” and a consensus target price of $28.27.

Hedge funds have recently bought and sold shares of the business. Northern Trust Corp increased its position in shares of Farfetch by 0.6% in the fourth quarter. Northern Trust Corp now owns 110,022 shares of the company’s stock valued at $1,948,000 after acquiring an additional 653 shares during the last quarter. Foxhaven Asset Management LP lifted its position in Farfetch by 0.6% during the 4th quarter. Foxhaven Asset Management LP now owns 130,315 shares of the company’s stock valued at $2,308,000 after acquiring an additional 800 shares during the period. Barclays PLC lifted its position in Farfetch by 163.6% during the 4th quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after acquiring an additional 3,600 shares during the period. NumerixS Investment Technologies Inc purchased a new position in Farfetch during the 4th quarter valued at about $135,000. Finally, FNY Investment Advisers LLC purchased a new position in Farfetch during the 1st quarter valued at about $228,000. Hedge funds and other institutional investors own 48.31% of the company’s stock.

FTCH stock traded up $0.17 during midday trading on Friday, hitting $19.96. 699,000 shares of the company’s stock were exchanged, compared to its average volume of 2,418,409. The stock’s fifty day moving average is $20.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.22 and a current ratio of 4.57. The company has a market cap of $5.92 billion and a P/E ratio of -33.83. Farfetch has a one year low of $15.98 and a one year high of $32.40.

Farfetch (NYSE:FTCH) last posted its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.19). The business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $171.06 million. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) EPS. On average, analysts predict that Farfetch will post -0.89 earnings per share for the current fiscal year.

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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