Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Short Interest Down 35.3% in August

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 35,666 shares, a drop of 35.3% from the July 30th total of 55,137 shares. Based on an average daily volume of 161,386 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Fast Retailing from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein started coverage on Fast Retailing in a report on Tuesday, May 26th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Fast Retailing Stock Up 1.2%

Shares of FRCOY opened at $45.02 on Tuesday. Fast Retailing has a 1 year low of $29.25 and a 1 year high of $55.65. The company has a 50 day simple moving average of $49.22 and a two-hundred day simple moving average of $46.57.

Fast Retailing (OTCMKTS:FRCOY) last released its earnings results on Thursday, July 9th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6 billion.

Fast Retailing Company Profile

Fast Retailing Co, Ltd. is a Japanese retail holding company best known as the parent of Uniqlo, one of the world’s leading casual apparel brands. Headquartered in Yamaguchi Prefecture, Japan, Fast Retailing focuses on the design, manufacture and global distribution of everyday wear for men, women and children. Its core business centers on accessible, high-quality basics that blend functionality with minimalist styling, underpinned by proprietary fabric technologies such as HEATTECH and AIRism.

The company traces its roots to a men’s clothing shop founded by Tadashi Yanai’s family in 1963.