Fossil Group, Inc. (NASDAQ:FOSL) Short Interest Down 44.3% in March

Fossil Group, Inc. (NASDAQ:FOSL) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 3,424,481 shares, a drop of 44.3% from the February 26th total of 6,149,857 shares. Based on an average daily trading volume, of 1,214,615 shares, the short-interest ratio is presently 2.8 days. Currently, 6.0% of the company’s shares are sold short.

Fossil Group Trading Down 1.8%

Shares of NASDAQ:FOSL traded down $0.08 during mid-day trading on Friday, hitting $3.99. The company had a trading volume of 43,525 shares, compared to its average volume of 705,786. The firm has a fifty day moving average price of $4.08 and a 200 day moving average price of $3.35. The company has a market capitalization of $232.54 million, a PE ratio of -2.73 and a beta of 1.68. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.55 and a quick ratio of 1.05. Fossil Group has a one year low of $0.86 and a one year high of $5.00.

Fossil Group (NASDAQ:FOSL) last issued its earnings results on Wednesday, March 11th. The accessories brand company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.17). The company had revenue of $280.52 million for the quarter, compared to the consensus estimate of $249.28 million. Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FOSL. Maxim Group upped their price target on shares of Fossil Group from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Wall Street Zen lowered shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a research note on Thursday, January 22nd. Northland Securities began coverage on Fossil Group in a report on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price objective for the company. Finally, Zacks Research raised Fossil Group to a “hold” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Hedge Funds Weigh In On Fossil Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Carrera Capital Advisors acquired a new stake in shares of Fossil Group in the 4th quarter valued at about $38,000. Bridgeway Capital Management LLC increased its position in Fossil Group by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock valued at $629,000 after buying an additional 10,249 shares in the last quarter. Empowered Funds LLC raised its stake in Fossil Group by 10.4% during the 4th quarter. Empowered Funds LLC now owns 114,403 shares of the accessories brand company’s stock worth $430,000 after buying an additional 10,824 shares during the period. Wexford Capital LP bought a new position in Fossil Group in the third quarter worth approximately $28,000. Finally, EHP Funds Inc. bought a new position in Fossil Group in the third quarter worth approximately $28,000. Institutional investors own 61.14% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.