Short Interest in Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Drops By 37.8%

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 99,499 shares, a decline of 37.8% from the April 30th total of 160,045 shares. Based on an average daily trading volume, of 3,236,423 shares, the short-interest ratio is currently 0.0 days.

Fast Retailing Stock Down 2.9%

FRCOY opened at $49.04 on Thursday. The firm’s fifty day simple moving average is $45.41 and its 200 day simple moving average is $41.27. Fast Retailing has a 12 month low of $29.25 and a 12 month high of $52.07.

Analysts Set New Price Targets

FRCOY has been the subject of several research analyst reports. Nomura raised shares of Fast Retailing to a “hold” rating in a report on Tuesday, March 3rd. Sanford C. Bernstein initiated coverage on shares of Fast Retailing in a report on Tuesday, May 26th. They issued an “outperform” rating for the company. Finally, Zacks Research raised shares of Fast Retailing from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Fast Retailing currently has a consensus rating of “Buy”.

About Fast Retailing

Fast Retailing Co, Ltd. is a Japanese retail holding company best known as the parent of Uniqlo, one of the world’s leading casual apparel brands. Headquartered in Yamaguchi Prefecture, Japan, Fast Retailing focuses on the design, manufacture and global distribution of everyday wear for men, women and children. Its core business centers on accessible, high-quality basics that blend functionality with minimalist styling, underpinned by proprietary fabric technologies such as HEATTECH and AIRism.

The company traces its roots to a men’s clothing shop founded by Tadashi Yanai’s family in 1963.