Swatch Group AG (OTCMKTS:SWGAY) Short Interest Up 395.5% in June

Swatch Group AG (OTCMKTS:SWGAY) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 48,011 shares, an increase of 395.5% from the May 31st total of 9,690 shares. Based on an average daily volume of 170,982 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research upgraded Swatch Group to a “hold” rating in a report on Friday, May 8th. Citigroup restated a “neutral” rating on shares of Swatch Group in a research note on Thursday, June 18th. Royal Bank Of Canada raised shares of Swatch Group from an “underperform” rating to a “sector perform” rating in a report on Wednesday, May 13th. Finally, Sanford C. Bernstein lowered shares of Swatch Group from an “outperform” rating to a “market perform” rating in a research note on Thursday. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Swatch Group Price Performance

Shares of Swatch Group stock opened at $12.42 on Friday. Swatch Group has a 52-week low of $7.98 and a 52-week high of $13.97. The company’s fifty day moving average price is $12.66 and its two-hundred day moving average price is $11.72.

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.