Swatch Group (OTCMKTS:SWGAY) Shares Gap Up – Here’s Why

Swatch Group AG (OTCMKTS:SWGAY) gapped up prior to trading on Thursday. The stock had previously closed at $10.6120, but opened at $11.09. Swatch Group shares last traded at $11.08, with a volume of 1,306 shares.

Analyst Upgrades and Downgrades

SWGAY has been the subject of several recent analyst reports. Kepler Capital Markets upgraded Swatch Group from a “reduce” rating to a “buy” rating in a research note on Wednesday, July 29th. Citigroup reiterated a “neutral” rating on shares of Swatch Group in a research report on Thursday, June 18th. The Goldman Sachs Group began coverage on shares of Swatch Group in a research report on Sunday, October 4th. They set a “sell” rating on the stock. Finally, Sanford C. Bernstein downgraded shares of Swatch Group from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Swatch Group Trading Up 3.4%

The firm’s fifty day simple moving average is $11.19 and its 200 day simple moving average is $11.83.

About Swatch Group

Swatch Group Ltd. is a Swiss-based international watchmaking and jewelry company headquartered in Biel/Bienne, Switzerland. The group develops, manufactures and markets watches, jewelry, watch movements and components, as well as related electronic systems and products.

Its portfolio includes brands across the luxury, prestige and entry-level segments, including Breguet, Blancpain, Omega, Longines, Rado, Tissot, Hamilton, Certina, Mido, Swatch, Glashütte Original and Harry Winston. Through its manufacturing companies, Swatch Group also supplies mechanical and quartz movements, watch components and other production technologies to its own brands and, in some cases, external customers.

The company was formed in 1983 through the merger of Swiss watchmaking groups ASUAG and SSIH.