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

Farfetch Ltd (NYSE:FTCH) was the target of a large increase in short interest in 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 daily trading volume, of 3,730,000 shares, the days-to-cover ratio is currently 8.4 days. Currently, 24.7% of the shares of the stock are sold short.

FTCH traded up $0.04 during trading on Friday, hitting $12.64. The company’s stock had a trading volume of 1,473,519 shares, compared to its average volume of 3,137,313. The firm’s 50 day moving average price is $11.80 and its two-hundred day moving average price is $10.51. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. Farfetch has a 12 month low of $7.43 and a 12 month high of $31.60. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -13.17 and a beta of 2.54.

Farfetch (NYSE:FTCH) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. Farfetch had a negative return on equity of 25.14% and a negative net margin of 35.84%. The firm had revenue of $255.50 million during the quarter, compared to the consensus estimate of $248.31 million. During the same quarter in the previous year, the company posted ($0.30) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, sell-side analysts forecast that Farfetch will post -1.14 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently modified their holdings of FTCH. Ladenburg Thalmann Financial Services Inc. bought a new position in Farfetch in the 2nd quarter valued at $37,000. Edge Wealth Management LLC bought a new position in Farfetch in the 3rd quarter valued at $43,000. Royal Bank of Canada raised its position in Farfetch by 7,657.5% in the 2nd quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock valued at $64,000 after purchasing an additional 3,063 shares during the last quarter. Aigen Investment Management LP bought a new position in Farfetch in the 4th quarter valued at $65,000. Finally, Ayalon Holdings Ltd. bought a new position in Farfetch in the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

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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