Swatch Group AG (OTCMKTS:SWGAY) Short Interest Down 88.6% in May

Swatch Group AG (OTCMKTS:SWGAY) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 9,690 shares, a decline of 88.6% from the May 14th total of 84,974 shares. Based on an average trading volume of 156,163 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SWGAY shares. Zacks Research raised Swatch Group to a “hold” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised Swatch Group from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Swatch Group Stock Up 0.6%

OTCMKTS:SWGAY traded up $0.07 during mid-day trading on Tuesday, reaching $12.66. The stock had a trading volume of 51,308 shares, compared to its average volume of 95,885. Swatch Group has a 1-year low of $7.89 and a 1-year high of $13.97. The stock’s 50 day simple moving average is $12.23 and its two-hundred day simple moving average is $11.48.

About Swatch Group

The Swatch Group is a Switzerland-based watchmaking conglomerate that designs, manufactures and distributes a broad portfolio of wristwatch and jewelry brands spanning entry-level fashion watches to high-end mechanical timepieces. Its stable of brands includes global names across multiple price segments, and the company is active in retail, wholesale and after-sales services. In addition to finished watches, Swatch Group produces key watch components and complete movements, supplying both its own brands and other firms in the industry.

Manufacturing and technical competence are central to the company’s operations.