Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) Sees Significant Increase in Short Interest

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 12,144 shares, an increase of 303,500.0% from the December 31st total of 4 shares. Based on an average daily trading volume, of 8,640 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 8,640 shares, the days-to-cover ratio is presently 1.4 days.

Salvatore Ferragamo Trading Down 8.6%

OTCMKTS:SFRGY traded down $0.36 during mid-day trading on Tuesday, reaching $3.83. The stock had a trading volume of 1,339 shares, compared to its average volume of 3,466. The business’s 50 day moving average is $4.62 and its 200 day moving average is $3.72. Salvatore Ferragamo has a fifty-two week low of $2.54 and a fifty-two week high of $5.27.

Analyst Upgrades and Downgrades

Separately, Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Salvatore Ferragamo has an average rating of “Hold”.

About Salvatore Ferragamo

Salvatore Ferragamo S.p.A. operates as a designer, producer and distributor of high-end luxury footwear, leather goods, apparel and accessories. The company’s product portfolio spans men’s and women’s shoes, handbags, small leather items, silk products, ready-to-wear collections, eyewear, fragrances and watches. Through its vertically integrated business model, Ferragamo controls key aspects of the value chain, from design and manufacturing to wholesale distribution and direct-to-consumer retail.

Founded in 1927 by Italian shoemaker Salvatore Ferragamo, the company is headquartered in Florence, Italy and has grown into a globally recognized luxury brand.