Fossil Group (NASDAQ:FOSL) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

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) 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 changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on FOSL. Wall Street Zen raised Fossil Group from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Maxim Group started coverage on Fossil Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $5.00 price target on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $5.00.

Fossil Group Trading Up 3.5%

The company has a current ratio of 1.83, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $1.79 and a two-hundred day simple moving average of $1.48. The firm has a market cap of $157.04 million, a PE ratio of -2.63 and a beta of 2.53.

Fossil Group (NASDAQ:FOSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share 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 analysts' expectations of $198.04 million.

Institutional Trading of Fossil Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fund 1 Investments LLC raised its position in shares of Fossil Group by 168.4% in the 2nd quarter. Fund 1 Investments LLC now owns 270,034 shares of the accessories brand company's stock worth $400,000 after acquiring an additional 169,413 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of Fossil Group by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company's stock worth $629,000 after acquiring an additional 10,249 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Fossil Group by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company's stock worth $3,643,000 after acquiring an additional 13,091 shares in the last quarter. Nantahala Capital Management LLC raised its position in shares of Fossil Group by 21.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company's stock worth $7,530,000 after acquiring an additional 898,626 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Fossil Group in the 2nd quarter worth approximately $122,000. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

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.