Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Up – Here’s What Happened

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.4628, but opened at $6.00. Salvatore Ferragamo shares last traded at $6.00, with a volume of 2,003 shares trading hands.

Wall Street Analyst Weigh In

SFRGY has been the subject of a number of research reports. Zacks Research upgraded shares of Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Salvatore Ferragamo currently has an average rating of “Hold”.

Salvatore Ferragamo Stock Down 10.8%

The company’s 50 day moving average price is $5.77 and its two-hundred day moving average price is $4.75.

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.