Fossil Group, Inc. (NASDAQ:FOSL) Short Interest Update

Key Points

• Fossil Group's short interest increased by 48.7% in August, totaling 3,540,000 shares, which represents 7.6% of the company's stock sold short.
• Brokerages have upgraded Fossil Group with a current average rating of "Buy" and a price target of $5.00 per share.
• For the last quarter, Fossil Group reported earnings per share of ($0.10), surpassing estimates and generating revenue of $220.40 million against an expected $198.04 million.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 3,540,000 shares, an increase of 48.7% from the August 15th total of 2,380,000 shares. Approximately 7.6% of the shares of the stock are short sold. Based on an average trading volume of 546,300 shares, the days-to-cover ratio is presently 6.5 days. Based on an average trading volume of 546,300 shares, the days-to-cover ratio is presently 6.5 days. Approximately 7.6% of the shares of the stock are short sold.

Fossil Group Stock Down 5.1%

Shares of FOSL traded down $0.16 during mid-day trading on Friday, reaching $3.00. The company's stock had a trading volume of 822,570 shares, compared to its average volume of 486,629. The business has a fifty day moving average of $2.42 and a 200 day moving average of $1.69. The company has a market cap of $161.34 million, a price-to-earnings ratio of -2.70 and a beta of 2.21. Fossil Group has a 1 year low of $0.86 and a 1 year high of $3.58. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24.

Fossil Group (NASDAQ:FOSL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.11. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.The business had revenue of $220.40 million during the quarter, compared to analyst estimates of $198.04 million.

Institutional Trading of Fossil Group

Several hedge funds and other institutional investors have recently modified their holdings of FOSL. Squarepoint Ops LLC purchased a new stake in shares of Fossil Group during the fourth quarter worth $29,000. Jane Street Group LLC increased its position in Fossil Group by 93.1% during the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company's stock worth $49,000 after buying an additional 20,530 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Fossil Group during the fourth quarter worth $63,000. XTX Topco Ltd acquired a new position in Fossil Group during the second quarter worth $122,000. Finally, American Century Companies Inc. increased its position in Fossil Group by 356.9% during the first quarter. American Century Companies Inc. now owns 129,025 shares of the accessories brand company's stock worth $148,000 after buying an additional 100,783 shares during the last quarter. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FOSL has been the subject of several research reports. Maxim Group initiated coverage on Fossil Group in a research note on Tuesday, July 1st. They set a "buy" rating and a $5.00 price objective for the company. Wall Street Zen raised Fossil Group from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Fossil Group currently has an average rating of "Buy" and a consensus price target of $5.00.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.