Fossil Group (NASDAQ:FOSL) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Fossil Group's share price recently surpassed its 200-day moving average, trading at $1.72 after reaching a high of $1.77.
• Analysts are optimistic about Fossil Group's future, with Maxim Group issuing a "buy" rating and a target price of $5.00.
• The company reported a revenue of $233.30 million for the most recent quarter, but faces challenges with a negative return on equity and a negative net margin.

Shares of Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.42 and traded as high as $1.77. Fossil Group shares last traded at $1.72, with a volume of 256,576 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Maxim Group started coverage on shares of Fossil Group in a report on Tuesday, July 1st. They set a "buy" rating and a $5.00 target price on the stock. Wall Street Zen raised shares of Fossil Group from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.

Fossil Group Price Performance

The business has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $1.44. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $166.25 million, a price-to-earnings ratio of -2.79 and a beta of 2.53.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.11. The company had revenue of $220.40 million during the quarter, compared to analysts' expectations 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

Several institutional investors have recently added to or reduced their stakes in FOSL. Fund 1 Investments LLC boosted its stake in shares of Fossil Group by 168.4% during the second quarter. Fund 1 Investments LLC now owns 270,034 shares of the accessories brand company's stock valued at $400,000 after purchasing an additional 169,413 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Fossil Group by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company's stock valued at $629,000 after acquiring an additional 10,249 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Fossil Group by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company's stock valued at $3,643,000 after acquiring an additional 13,091 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Fossil Group by 21.5% in the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company's stock valued at $7,530,000 after acquiring an additional 898,626 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Fossil Group in the second quarter valued at $122,000. 61.14% of the stock is 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.