Farfetch Ltd (NYSE:FTCH) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.78 and last traded at $8.79, with a volume of 2784937 shares traded. The stock had previously closed at $9.34.

Several analysts recently issued reports on FTCH shares. Wells Fargo & Co set a $17.00 target price on Farfetch and gave the stock a “buy” rating in a report on Friday, August 9th. Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a report on Friday, June 7th. Bank of America dropped their price objective on Farfetch from $33.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BTIG Research initiated coverage on Farfetch in a research note on Tuesday, July 16th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Credit Suisse Group set a $22.00 price objective on Farfetch and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Farfetch has an average rating of “Buy” and an average price target of $24.23.

The company has a quick ratio of 2.91, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $11.86 and a 200-day simple moving average of $20.59. The stock has a market cap of $3.08 billion and a P/E ratio of -14.73.

Farfetch (NYSE:FTCH) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The business had revenue of $209.30 million during the quarter, compared to the consensus estimate of $196.51 million. Farfetch had a negative net margin of 40.23% and a negative return on equity of 25.53%. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. On average, equities analysts anticipate that Farfetch Ltd will post -1.27 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in FTCH. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Farfetch during the second quarter worth approximately $37,000. Mirova bought a new position in shares of Farfetch during the second quarter worth approximately $53,000. Royal Bank of Canada increased its stake in shares of Farfetch by 7,657.5% during the second quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock worth $64,000 after purchasing an additional 3,063 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Farfetch by 9,359.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock worth $73,000 after purchasing an additional 3,463 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Farfetch during the second quarter worth approximately $154,000. Institutional investors own 66.06% of the company’s stock.

Farfetch Company Profile (NYSE:FTCH)

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.

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