Industria de Diseno Textil SA (OTCMKTS:IDEXY) Stock Short Interest Drops 52.6%

Key Points

• Short interest fell 52.6% to 153,400 shares as of September 30, representing about 0.0% of Inditex’s shares and only 0.1 days of average trading volume.
• IDEXY shares traded down 0.4% to $15.05, while the company reported quarterly EPS of $0.15 in line with estimates and revenue of $12.82 billion, above expectations.
• Analyst sentiment remained positive: Barclays upgraded the stock to “strong buy,” contributing to a consensus “Buy” rating, while Azimuth Capital acquired approximately 351,596 shares valued at $5.54 million.

Industria de Diseno Textil SA (OTCMKTS:IDEXY - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 153,400 shares, a decrease of 52.6% from the September 15th total of 323,599 shares. Based on an average daily volume of 1,048,166 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Industria de Diseno Textil Trading Down 0.4%

IDEXY traded down $0.07 during trading on Wednesday, hitting $15.05. 298,511 shares of the company's stock were exchanged, compared to its average volume of 594,248. The stock has a 50 day moving average price of $15.92 and a 200 day moving average price of $15.61. Industria de Diseno Textil has a 1 year low of $13.06 and a 1 year high of $17.34. The firm has a market cap of $187.68 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02.

Industria de Diseno Textil (OTCMKTS:IDEXY - Get Free Report) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Industria de Diseno Textil had a return on equity of 33.83% and a net margin of 15.54%. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.66 billion. Analysts forecast that Industria de Diseno Textil will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded shares of Industria de Diseno Textil from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Industria de Diseno Textil has a consensus rating of "Buy".

Hedge Funds Weigh In On Industria de Diseno Textil

An institutional investor recently bought a new position in Industria de Diseno Textil stock. Azimuth Capital Investment Management LLC purchased a new position in Industria de Diseno Textil SA (OTCMKTS:IDEXY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 351,596 shares of the company's stock, valued at approximately $5,539,000.

About Industria de Diseno Textil

Industria de Diseño Textil, SA (Inditex) is a Spanish multinational fashion retail group best known for its Zara brand. The company designs, manufactures, distributes and sells apparel, footwear, accessories and home products through a network of retail stores and online platforms.

Inditex operates a portfolio of brands that includes Zara, Zara Home, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho. Its products span womenswear, menswear, childrenswear, footwear, accessories, beauty and home furnishings, with each brand targeting distinct customer segments and styles.

Inditex traces its origins to Zara, which was founded in A Coruña, Spain, in 1975 by Amancio Ortega and Rosalía Mera.

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