Short Interest in Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) Drops By 99.9%

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 1 shares, a decline of 99.9% from the June 15th total of 1,565 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 6,030 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a research note on Tuesday, June 30th. Zacks Research upgraded Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Salvatore Ferragamo Price Performance

Shares of SFRGY stock traded up $0.10 on Friday, hitting $5.93. 816 shares of the stock traded hands, compared to its average volume of 2,882. Salvatore Ferragamo has a 52 week low of $2.54 and a 52 week high of $6.72. The firm has a 50 day simple moving average of $5.29 and a two-hundred day simple moving average of $4.60. The firm has a market cap of $2.00 billion and a price-to-earnings ratio of 12.13.

About Salvatore Ferragamo

Salvatore Ferragamo S.p.A. operates as a designer, producer and distributor of high-end luxury footwear, leather goods, apparel and accessories. The company’s product portfolio spans men’s and women’s shoes, handbags, small leather items, silk products, ready-to-wear collections, eyewear, fragrances and watches. Through its vertically integrated business model, Ferragamo controls key aspects of the value chain, from design and manufacturing to wholesale distribution and direct-to-consumer retail.

Founded in 1927 by Italian shoemaker Salvatore Ferragamo, the company is headquartered in Florence, Italy and has grown into a globally recognized luxury brand.