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

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

Fossil Group Stock Performance

Fossil Group stock traded down $0.08 during mid-day trading on Friday, hitting $3.98. 321,419 shares of the company’s stock traded hands, compared to its average volume of 948,091. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.55 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $4.08 and a two-hundred day simple moving average of $3.36. Fossil Group has a fifty-two week low of $0.86 and a fifty-two week high of $5.00. The stock has a market cap of $232.23 million, a price-to-earnings ratio of -2.73 and a beta of 1.68.

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

Wall Street Analyst Weigh In

FOSL has been the topic of a number of recent analyst reports. Northland Securities assumed coverage on shares of Fossil Group in a report on Thursday, February 19th. They set an “outperform” rating and a $7.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a research report on Thursday, January 22nd. Maxim Group boosted their price objective on shares of Fossil Group from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Wall Street Zen cut shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Zacks Research upgraded shares of Fossil Group to a “hold” rating in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Fossil Group presently has an average rating of “Hold” and a consensus price target of $7.00.

Institutional Investors Weigh In On Fossil Group

A number of institutional investors have recently made changes to their positions in FOSL. Wexford Capital LP acquired a new position in shares of Fossil Group in the third quarter valued at approximately $28,000. EHP Funds Inc. acquired a new stake in Fossil Group during the 3rd quarter worth approximately $28,000. Carrera Capital Advisors bought a new stake in Fossil Group in the 4th quarter valued at $38,000. Qube Research & Technologies Ltd acquired a new position in Fossil Group in the 3rd quarter valued at $39,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in Fossil Group in the 3rd quarter valued at $45,000. Institutional investors own 61.14% of the company’s stock.

Fossil Group Company Profile

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.