Short Interest in Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Declines By 54.3%

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 50,094 shares, a decrease of 54.3% from the February 26th total of 109,499 shares. Based on an average trading volume of 153,587 shares, the days-to-cover ratio is currently 0.3 days.

Fast Retailing Stock Down 1.7%

Shares of FRCOY traded down $0.66 during trading hours on Thursday, hitting $38.53. The company had a trading volume of 15,503 shares, compared to its average volume of 71,796. Fast Retailing has a 52-week low of $28.46 and a 52-week high of $45.83. The stock’s 50 day moving average price is $41.20 and its 200 day moving average price is $37.27.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Nomura upgraded Fast Retailing to a “hold” rating in a report on Tuesday, March 3rd. Zacks Research downgraded Fast Retailing from a “strong-buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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.