Farfetch Ltd (NYSE:FTCH) Short Interest Up 9.5% in December

Farfetch Ltd (NYSE:FTCH) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 28,730,000 shares, a growth of 9.5% from the December 15th total of 26,230,000 shares. Approximately 22.7% of the company’s stock are short sold. Based on an average daily volume of 3,520,000 shares, the days-to-cover ratio is currently 8.2 days.

Several institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. bought a new stake in shares of Farfetch during the third quarter valued at about $1,591,000. Soros Fund Management LLC purchased a new stake in Farfetch in the third quarter worth approximately $11,289,000. Squarepoint Ops LLC boosted its stake in Farfetch by 16.2% in the third quarter. Squarepoint Ops LLC now owns 51,365 shares of the company’s stock worth $444,000 after buying an additional 7,169 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Farfetch in the third quarter worth approximately $2,801,000. Finally, Virtu Financial LLC purchased a new stake in Farfetch in the third quarter worth approximately $203,000. 63.71% of the stock is owned by institutional investors.

Shares of Farfetch stock traded up $0.31 during trading hours on Thursday, reaching $12.70. 71,551 shares of the company were exchanged, compared to its average volume of 2,506,104. Farfetch has a 1 year low of $7.43 and a 1 year high of $31.60. The stock’s fifty day moving average is $10.20 and its 200 day moving average is $11.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.33 and a current ratio of 1.63. The firm has a market cap of $3.69 billion, a PE ratio of -21.64 and a beta of 2.61.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. The business had revenue of $255.50 million for the quarter, compared to analyst estimates of $248.31 million. Farfetch had a negative return on equity of 25.14% and a negative net margin of 35.84%. The company’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Research analysts expect that Farfetch will post -1.14 earnings per share for the current year.

FTCH has been the subject of a number of recent analyst reports. ValuEngine raised Farfetch from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut Farfetch from a “hold” rating to a “sell” rating in a research report on Tuesday. Sanford C. Bernstein cut Farfetch from a “market perform” rating to an “underperform” rating in a research report on Wednesday, November 13th. KeyCorp lowered their price target on Farfetch from $27.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $21.40 price target (down previously from $37.00) on shares of Farfetch in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. Farfetch presently has a consensus rating of “Buy” and an average target price of $22.14.

Farfetch Company Profile

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

Read More: What does the Dogs of the Dow mean?

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.