Farfetch Ltd (NYSE:FTCH) Sees Significant Increase in Short Interest

Farfetch Ltd (NYSE:FTCH) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 31,210,000 shares, an increase of 8.6% from the January 15th total of 28,730,000 shares. Based on an average trading volume of 3,730,000 shares, the short-interest ratio is currently 8.4 days. Currently, 24.7% of the company’s shares are sold short.

A number of research firms have issued reports on FTCH. Credit Suisse Group decreased their target price on Farfetch from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Goldman Sachs Group reaffirmed a “buy” rating and set a $21.40 price objective (down from $37.00) on shares of Farfetch in a research report on Monday, November 4th. Zacks Investment Research cut Farfetch from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein cut Farfetch from a “market perform” rating to an “underperform” rating in a research report on Wednesday, November 13th. Finally, KeyCorp reduced their price objective on Farfetch from $27.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.14.

Shares of FTCH stock traded up $0.04 on Friday, hitting $12.64. 1,473,519 shares of the stock were exchanged, compared to its average volume of 3,137,313. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.65 billion, a P/E ratio of -13.17 and a beta of 2.54. The business has a 50-day moving average of $11.80 and a 200 day moving average of $10.51. Farfetch has a fifty-two week low of $7.43 and a fifty-two week high of $31.60.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09. The company had revenue of $255.50 million during the quarter, compared to analysts’ expectations of $248.31 million. Farfetch had a negative return on equity of 25.14% and a negative net margin of 35.84%. Farfetch’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, research analysts forecast that Farfetch will post -1.14 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Tremblant Capital Group acquired a new position in Farfetch during the fourth quarter valued at approximately $119,546,000. Global Thematic Partners LLC boosted its position in Farfetch by 191.9% during the fourth quarter. Global Thematic Partners LLC now owns 3,725,856 shares of the company’s stock valued at $38,562,000 after purchasing an additional 2,449,534 shares during the last quarter. Glynn Capital Management LLC boosted its position in Farfetch by 23.0% during the fourth quarter. Glynn Capital Management LLC now owns 2,724,727 shares of the company’s stock valued at $28,201,000 after purchasing an additional 510,001 shares during the last quarter. Baillie Gifford & Co. boosted its position in Farfetch by 56.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,046,721 shares of the company’s stock valued at $21,184,000 after purchasing an additional 737,670 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Farfetch by 2.5% during the fourth quarter. Sei Investments Co. now owns 1,457,928 shares of the company’s stock valued at $15,090,000 after purchasing an additional 35,337 shares during the last quarter. 64.63% of the stock is owned by institutional investors.

About Farfetch

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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