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

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

Fast Retailing Trading Down 0.1%

OTCMKTS:FRCOY opened at $43.90 on Thursday. Fast Retailing has a 1 year low of $29.25 and a 1 year high of $55.65. The firm has a 50 day moving average of $48.96 and a 200-day moving average of $46.56.

Fast Retailing (OTCMKTS:FRCOY) last announced its earnings results on Thursday, July 9th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6 billion.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Sanford C. Bernstein started coverage on Fast Retailing in a research report on Tuesday, May 26th. They issued an “outperform” rating for the company. Zacks Research downgraded shares of Fast Retailing from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently 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.