Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Sees Large Drop in Short Interest

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) was the target of a significant 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 currently 0.2 days.

Fast Retailing Price Performance

OTCMKTS FRCOY opened at $48.37 on Monday. The firm has a 50 day simple moving average of $50.25 and a 200-day simple moving average of $46.12. Fast Retailing has a one year low of $29.25 and a one year high of $55.65.

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

Wall Street Analyst Weigh In

FRCOY has been the subject of a number of research reports. Zacks Research lowered shares of Fast Retailing from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein started 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’s stock. Based on data from MarketBeat, Fast Retailing presently has a consensus 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.