Industria de Diseno Textil SA (OTCMKTS:IDEXY) Sees Large Drop in Short Interest

Key Points

• Short interest fell sharply by 50.7% to 75,664 shares as of October 15, representing effectively 0.0% of shares outstanding and a 0.0-day days-to-cover ratio.
• Analyst sentiment was generally positive: Barclays upgraded Inditex from “Hold” to “Strong Buy,” and the stock carries an overall “Buy” rating based on four analyst opinions.
• IDEXY shares traded down 1.9% to $15.68, while the company’s latest quarterly results met earnings expectations at $0.15 per share and exceeded revenue estimates with $12.82 billion.

Industria de Diseno Textil SA (OTCMKTS:IDEXY - Get Free Report) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 75,664 shares, a drop of 50.7% from the September 30th total of 153,400 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 1,583,330 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Barclays raised shares of Industria de Diseno Textil from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy".

Industria de Diseno Textil Trading Down 1.9%

IDEXY stock traded down $0.30 during midday trading on Friday, hitting $15.68. The company's stock had a trading volume of 269,502 shares, compared to its average volume of 738,834. Industria de Diseno Textil has a 12 month low of $13.06 and a 12 month high of $17.34. The company has a market cap of $195.48 billion, a PE ratio of 26.13, a P/E/G ratio of 2.70 and a beta of 1.02. The firm's 50-day moving average is $15.65 and its 200-day moving average is $15.71.

Industria de Diseno Textil (OTCMKTS:IDEXY - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. Industria de Diseno Textil had a return on equity of 33.83% and a net margin of 15.54%. The business had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.66 billion. Analysts expect that Industria de Diseno Textil will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Industria de Diseno Textil stock. Azimuth Capital Investment Management LLC bought a new position in Industria de Diseno Textil SA (OTCMKTS:IDEXY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 351,596 shares of the company's stock, valued at approximately $5,539,000.

Industria de Diseno Textil Company Profile

Industria de Diseño Textil, SA (Inditex) is a Spanish fashion retail group headquartered in Arteixo, Galicia. The company operates an integrated retail model that combines physical stores, e-commerce platforms, product design, sourcing, logistics and distribution.

Inditex's portfolio includes Zara, Zara Home, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho. Its products include apparel, footwear, accessories, cosmetics and home furnishings, with offerings positioned across a range of fashion and lifestyle categories.

The company traces its origins to Zara, which was founded in 1975 by Amancio Ortega and Rosalía Mera; Inditex was established as a corporate group in 1985.

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