Short Interest in Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Drops By 42.3%

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 55,137 shares, a decline of 42.3% from the July 15th total of 95,542 shares. Based on an average daily volume of 341,916 shares, the days-to-cover ratio is presently 0.2 days.

Fast Retailing Price Performance

Shares of FRCOY stock opened at $48.37 on Monday. Fast Retailing has a 1-year low of $29.25 and a 1-year high of $55.65. The firm has a fifty day moving average of $50.25 and a two-hundred day moving average of $46.12.

Fast Retailing (OTCMKTS:FRCOY) last announced its quarterly earnings data on Thursday, July 9th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6 billion.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research cut shares of Fast Retailing from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein began coverage on shares of Fast Retailing in a report on Tuesday, May 26th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Fast Retailing currently has an average rating of “Hold”.

About Fast Retailing

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.