Swatch Group AG (OTCMKTS:SWGAY) Sees Significant Decrease in Short Interest

Swatch Group AG (OTCMKTS:SWGAY) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 27,015 shares, a drop of 70.1% from the July 15th total of 90,501 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 204,588 shares, the days-to-cover ratio is currently 0.1 days.

Swatch Group Stock Down 0.2%

OTCMKTS:SWGAY opened at $11.84 on Thursday. Swatch Group has a twelve month low of $8.25 and a twelve month high of $13.97. The stock’s 50 day moving average price is $12.13 and its two-hundred day moving average price is $12.00.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SWGAY shares. Citigroup reissued a “neutral” rating on shares of Swatch Group in a research report on Thursday, June 18th. Kepler Capital Markets upgraded shares of Swatch Group from a “reduce” rating to a “buy” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised shares of Swatch Group from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, May 13th. Sanford C. Bernstein downgraded shares of Swatch Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded shares of Swatch Group to a “hold” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

About Swatch Group

The Swatch Group is a Switzerland-based watchmaking conglomerate that designs, manufactures and distributes a broad portfolio of wristwatch and jewelry brands spanning entry-level fashion watches to high-end mechanical timepieces. Its stable of brands includes global names across multiple price segments, and the company is active in retail, wholesale and after-sales services. In addition to finished watches, Swatch Group produces key watch components and complete movements, supplying both its own brands and other firms in the industry.

Manufacturing and technical competence are central to the company’s operations.