Farfetch Ltd (NYSE:FTCH) Short Interest Update

Farfetch Ltd (NYSE:FTCH) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 22,870,700 shares, a growth of 14.9% from the July 31st total of 19,912,000 shares. Based on an average trading volume of 3,520,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 17.9% of the shares of the stock are sold short.

Several large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Farfetch during the second quarter worth $37,000. Mirova acquired a new position in Farfetch in the second quarter valued at $53,000. Royal Bank of Canada lifted its holdings in Farfetch by 7,657.5% in the second quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock valued at $64,000 after buying an additional 3,063 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Farfetch by 9,359.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after buying an additional 3,463 shares during the period. Finally, O Shares Investment Advisers LLC lifted its holdings in Farfetch by 18.3% in the second quarter. O Shares Investment Advisers LLC now owns 27,030 shares of the company’s stock valued at $562,000 after buying an additional 4,182 shares during the period. Institutional investors own 67.68% of the company’s stock.

Farfetch stock traded down $0.11 during mid-day trading on Friday, reaching $9.87. The company had a trading volume of 2,490,638 shares, compared to its average volume of 3,052,131. Farfetch has a fifty-two week low of $8.82 and a fifty-two week high of $32.40. The company has a current ratio of 3.19, a quick ratio of 2.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.99 billion and a P/E ratio of -16.73. The business has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $20.92.

Farfetch (NYSE:FTCH) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The business had revenue of $209.30 million for the quarter, compared to analyst estimates of $196.51 million. Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. The company’s revenue was up 42.7% compared to the same quarter last year. Research analysts forecast that Farfetch will post -1.18 EPS for the current year.

A number of brokerages recently issued reports on FTCH. Cowen decreased their price objective on shares of Farfetch from $33.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. KeyCorp began coverage on shares of Farfetch in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $27.00 price objective on the stock. Bank of America decreased their price objective on shares of Farfetch from $33.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BTIG Research began coverage on shares of Farfetch in a research note on Tuesday, July 16th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Credit Suisse Group set a $22.00 price objective on shares of Farfetch and gave the company a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $24.23.

Farfetch Company Profile

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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