Short Interest in Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Decreases By 35.3%

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 35,666 shares, a decrease of 35.3% from the July 30th total of 55,137 shares. Based on an average daily volume of 161,386 shares, the days-to-cover ratio is presently 0.2 days.

Fast Retailing Price Performance

Shares of OTCMKTS FRCOY opened at $43.96 on Wednesday. Fast Retailing has a 12 month low of $29.25 and a 12 month high of $55.65. The business has a 50-day moving average of $49.09 and a 200-day moving average of $46.56.

Fast Retailing (OTCMKTS:FRCOY) last posted its quarterly earnings data on Thursday, July 9th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6 billion.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of Fast Retailing in a report on Tuesday, May 26th. They issued an “outperform” rating for the company. Zacks Research cut shares of Fast Retailing from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Fast Retailing has an average 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.