Short Interest in Industria de Diseno Textil SA (OTCMKTS:IDEXY) Decreases By 41.2%

Key Points

• Short interest fell 41.2% to 136,428 shares as of August 31, representing approximately 0.0% of Industria de Diseño Textil’s outstanding stock and just 0.2 days of average trading volume.
• IDEXY shares rose 0.5% to $15.18, while the company’s latest quarterly results met earnings expectations at $0.15 per share and exceeded revenue forecasts with $12.82 billion.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and Barclays upgrading the stock to “strong buy”; Azimuth Capital also acquired 351,596 shares worth about $5.5 million.

Industria de Diseno Textil SA (OTCMKTS:IDEXY - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 136,428 shares, a decline of 41.2% from the August 15th total of 231,965 shares. Based on an average daily trading volume, of 572,371 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company's stock are short sold.

Industria de Diseno Textil Stock Up 0.5%

Shares of IDEXY traded up $0.07 during trading on Wednesday, reaching $15.18. The company's stock had a trading volume of 515,455 shares, compared to its average volume of 582,632. The company has a market cap of $189.24 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.52 and a beta of 0.95. The company has a fifty day moving average of $16.22 and a two-hundred day moving average of $15.62. Industria de Diseno Textil has a twelve month low of $12.88 and a twelve month high of $17.34.

Industria de Diseno Textil (OTCMKTS:IDEXY - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. The business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.66 billion. Industria de Diseno Textil had a net margin of 15.54% and a return on equity of 33.12%. As a group, equities analysts forecast that Industria de Diseno Textil will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Industria de Diseno Textil

A hedge fund recently bought a new position in Industria de Diseno Textil stock. Azimuth Capital Investment Management LLC purchased a new position in shares of Industria de Diseno Textil SA (OTCMKTS:IDEXY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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 best known for its Zara brand. The company designs, manufactures, distributes and sells apparel, footwear, accessories and home products through a combination of company-operated stores and online platforms.

Inditex's portfolio includes Zara, Zara Home, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho. Its business model emphasizes frequent product updates, coordinated global operations and close integration between its physical stores and digital sales channels.

Founded in 1985 and headquartered in Arteixo, Galicia, Spain, Inditex serves customers across Europe, the Americas, Asia and other international markets.

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