The Swatch Group AG (OTCMKTS:SWGAY) Sees Large Growth in Short Interest

The Swatch Group AG (OTCMKTS:SWGAY) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 175,100 shares, a growth of 514.4% from the December 31st total of 28,500 shares. Based on an average trading volume of 466,600 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

SWGAY has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of The Swatch Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 9th. Berenberg Bank raised shares of The Swatch Group to a “strong sell” rating in a report on Wednesday, October 30th.

The Swatch Group Trading Down 0.6 %

SWGAY stock traded down $0.05 during trading on Wednesday, hitting $9.00. 215,360 shares of the stock traded hands, compared to its average volume of 221,503. The Swatch Group has a one year low of $8.42 and a one year high of $12.33. The company has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $9.65.

About The Swatch Group

The Swatch Group AG designs, manufactures, and sells finished watches, jewelry, and watch movements and components worldwide. The company operates through Watches & Jewelry and Electronic Systems segments. The Watches & Jewelry segment designs, produces, and commercializes watches and jewelry.