Fossil Group (NASDAQ:FOSL) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Fossil Group's share price surpassed its 200-day moving average, trading at $3.16, indicating potential momentum in the stock's performance.
• Analysts have shown optimism for the stock, with a notable rating increase from "hold" to "buy," and a consensus price target set at $5.00.
• Fossil reported better than expected quarterly earnings, posting EPS of ($0.10), beating analysts' estimates by $0.11, along with revenue of $220.40 million.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.46 and traded as high as $3.29. Fossil Group shares last traded at $3.16, with a volume of 1,100,495 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Fossil Group from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Maxim Group assumed coverage on shares of Fossil Group in a report on Tuesday, July 1st. They set a "buy" rating and a $5.00 target price for the company. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $5.00.

Fossil Group Trading Up 3.5%

The firm has a market capitalization of $157.05 million, a PE ratio of -2.63 and a beta of 2.53. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The business's fifty day moving average price is $1.79 and its 200 day moving average price is $1.49.

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

Institutional Investors Weigh In On Fossil Group

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP boosted its position in shares of Fossil Group by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 924,765 shares of the accessories brand company's stock worth $1,544,000 after acquiring an additional 205,489 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Fossil Group by 193.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 323,300 shares of the accessories brand company's stock worth $540,000 after acquiring an additional 213,300 shares during the last quarter. Fund 1 Investments LLC boosted its position in shares of Fossil Group by 286.1% in the fourth quarter. Fund 1 Investments LLC now owns 388,485 shares of the accessories brand company's stock worth $649,000 after acquiring an additional 287,864 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fossil Group by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 203,050 shares of the accessories brand company's stock worth $339,000 after acquiring an additional 8,286 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Fossil Group in the fourth quarter worth approximately $63,000. 61.14% of the stock is owned by institutional investors and hedge funds.

About Fossil Group

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.