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

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 50,094 shares, a drop of 54.3% from the February 26th total of 109,499 shares. Based on an average daily volume of 153,587 shares, the short-interest ratio is currently 0.3 days.

Fast Retailing Trading Down 1.8%

Shares of FRCOY traded down $0.70 during mid-day trading on Friday, reaching $37.53. 60,001 shares of the company’s stock were exchanged, compared to its average volume of 72,341. Fast Retailing has a 52-week low of $28.46 and a 52-week high of $45.83. The company has a 50-day simple moving average of $41.16 and a two-hundred day simple moving average of $37.28.

Analyst Ratings Changes

A number of research firms have commented on FRCOY. Nomura upgraded Fast Retailing to a “hold” rating in a research report on Tuesday, March 3rd. Zacks Research cut Fast Retailing from a “strong-buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Fast Retailing presently has a consensus rating of “Hold”.

Fast Retailing Company Profile

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.