Short Interest in Swatch Group AG (OTCMKTS:SWGAY) Expands By 87.3%

Swatch Group AG (OTCMKTS:SWGAY) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 84,974 shares, a growth of 87.3% from the April 30th total of 45,375 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 200,709 shares, the days-to-cover ratio is presently 0.4 days.

Swatch Group Price Performance

SWGAY opened at $13.80 on Wednesday. Swatch Group has a 12 month low of $7.89 and a 12 month high of $13.97. The business has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $11.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Swatch Group to a “hold” rating in a report on Friday, May 8th. Citigroup reissued a “neutral” rating on shares of Swatch Group in a research report on Friday, February 6th. Finally, Royal Bank Of Canada upgraded shares of Swatch Group from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

About Swatch Group

The Swatch Group is a Switzerland-based watchmaking conglomerate that designs, manufactures and distributes a broad portfolio of wristwatch and jewelry brands spanning entry-level fashion watches to high-end mechanical timepieces. Its stable of brands includes global names across multiple price segments, and the company is active in retail, wholesale and after-sales services. In addition to finished watches, Swatch Group produces key watch components and complete movements, supplying both its own brands and other firms in the industry.

Manufacturing and technical competence are central to the company’s operations.