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

Key Points

• Short interest fell 44.3% in March to 3,424,481 shares (about 6.0% of shares short) with a short-interest ratio of 2.8 days.
• Analyst views are mixed — the consensus is a "Hold" with an average price target of $7.00 (two Buys, one Hold, one Sell).
• Most recent quarter: EPS of -$0.15 missed estimates while revenue of $280.5M beat expectations; the stock trades near $3.99 with a market cap of about $232.5M and negative profitability metrics.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) was the target of a significant 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 trading volume of 1,214,615 shares, the short-interest ratio is presently 2.8 days. Currently, 6.0% of the shares of the company are short sold.

Analysts Set New Price Targets

FOSL has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fossil Group in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Fossil Group to a "hold" rating in a research report on Friday, February 20th. Wall Street Zen cut shares of Fossil Group from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Maxim Group lifted their price target on shares of Fossil Group from $5.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. Finally, Northland Securities initiated coverage on Fossil Group in a research note on Thursday, February 19th. They issued an "outperform" rating and a $7.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fossil Group has an average rating of "Hold" and an average price target of $7.00.

Fossil Group Price Performance

FOSL stock traded down $0.08 during trading on Friday, reaching $3.99. 43,525 shares of the company were exchanged, compared to its average volume of 705,786. The company has a 50-day moving average of $4.08 and a two-hundred day moving average of $3.35. The company has a market capitalization of $232.54 million, a price-to-earnings ratio of -2.73 and a beta of 1.68. Fossil Group has a twelve month low of $0.86 and a twelve month high of $5.00. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.55 and a quick ratio of 1.05.

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

Institutional Investors Weigh In On Fossil Group

A number of hedge funds and other institutional investors have recently bought and sold shares of FOSL. Wexford Capital LP acquired a new position in Fossil Group in the 3rd quarter worth about $28,000. EHP Funds Inc. acquired a new stake in shares of Fossil Group during the third quarter valued at about $28,000. Carrera Capital Advisors bought a new stake in shares of Fossil Group during the fourth quarter worth about $38,000. Qube Research & Technologies Ltd bought a new stake in shares of Fossil Group during the third quarter worth about $39,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Fossil Group in the third quarter valued at approximately $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.

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