The Swatch Group AG (OTCMKTS:SWGAY) Sees Significant Decrease in Short Interest

The Swatch Group AG (OTCMKTS:SWGAY) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 19,900 shares, a drop of 87.8% from the October 15th total of 162,600 shares. Based on an average daily trading volume, of 311,800 shares, the short-interest ratio is presently 0.1 days.

The Swatch Group Stock Performance

SWGAY stock traded up $0.12 during midday trading on Thursday, reaching $9.08. 248,203 shares of the company’s stock traded hands, compared to its average volume of 189,563. The firm’s fifty day moving average price is $9.90 and its 200-day moving average price is $10.24. The Swatch Group has a 52 week low of $8.73 and a 52 week high of $13.73.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SWGAY. Jefferies Financial Group cut The Swatch Group from a “hold” rating to an “underperform” rating in a report on Friday, September 20th. Berenberg Bank raised The Swatch Group to a “strong sell” rating in a research note on Wednesday, October 30th. Finally, UBS Group upgraded The Swatch Group to a “strong sell” rating in a research note on Monday, September 23rd.

The Swatch Group Company Profile

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.