Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Down – Here’s Why

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) gapped down prior to trading on Thursday. The stock had previously closed at $3.92, but opened at $3.65. Salvatore Ferragamo shares last traded at $3.65, with a volume of 1,170 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SFRGY. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a report on Monday, August 17th. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of “Hold”.

Salvatore Ferragamo Stock Down 4.7%

The firm has a fifty day moving average price of $4.73 and a 200 day moving average price of $5.07.

About Salvatore Ferragamo

Salvatore Ferragamo S.p.A. is an Italian luxury-goods company best known for its footwear and leather craftsmanship. The company designs and sells luxury shoes, handbags, small leather goods, apparel, silk products, accessories, eyewear, watches and fragrances under the Ferragamo brand.

The company traces its origins to Salvatore Ferragamo, who established his business in Italy in 1927 after developing a reputation as a footwear designer in the United States. Ferragamo became known for combining technical innovation with Italian craftsmanship, and the business later expanded from shoes into a broader lifestyle and luxury-fashion offering.

Salvatore Ferragamo serves customers internationally through directly operated stores, e-commerce, selected wholesale partners and travel-retail locations.