Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) Short Interest Down 71.4% in April

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY – Get Rating) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 800 shares, a decline of 71.4% from the April 15th total of 2,800 shares. Based on an average daily volume of 8,500 shares, the short-interest ratio is presently 0.1 days.

SFRGY has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of Salvatore Ferragamo to an “underweight” rating in a report on Tuesday, January 18th. Cheuvreux downgraded shares of Salvatore Ferragamo from a “hold” rating to a “reduce” rating in a report on Monday, April 4th. Finally, Societe Generale downgraded shares of Salvatore Ferragamo from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Seven investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, Salvatore Ferragamo currently has a consensus rating of “Sell” and a consensus price target of $18.00.

Shares of Salvatore Ferragamo stock opened at $8.30 on Friday. The company has a 50 day moving average of $8.69 and a 200-day moving average of $10.52. Salvatore Ferragamo has a 1-year low of $7.06 and a 1-year high of $13.42.

About Salvatore Ferragamo (Get Rating)

Salvatore Ferragamo S.p.A., through its subsidiaries, creates, produces, and sells luxury goods for men and women in Italy, rest of Europe, North America, Japan, the Asia Pacific, and Central and South America. The company offers men's and women's footwear; leather goods, such as handbags, suitcases, belts, wallets, and other men's and women's leather accessories; and knitwear, clothes for formal occasions, sportswear, and leisure wear, as well as outerwear, such as husky jackets, ponchos, and leather garments.

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