Ermenegildo Zegna (NYSE:ZGN) Short Interest Down 22.1% in November

Ermenegildo Zegna (NYSE:ZGN) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,620,000 shares, a decline of 22.1% from the October 31st total of 2,080,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily volume of 822,700 shares, the days-to-cover ratio is currently 2.0 days.

Ermenegildo Zegna Trading Up 2.7 %

Shares of NYSE ZGN traded up $0.21 during trading on Friday, reaching $8.09. The stock had a trading volume of 436,018 shares, compared to its average volume of 603,953. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a fifty-two week low of $7.13 and a fifty-two week high of $15.26. The business’s 50-day moving average price is $8.14 and its 200-day moving average price is $10.09.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZGN. Bank of America cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $9.80 in a research report on Monday, September 23rd. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective on the stock.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of ZGN. nVerses Capital LLC lifted its holdings in Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after buying an additional 2,100 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Ermenegildo Zegna during the third quarter worth $149,000. XTX Topco Ltd acquired a new stake in shares of Ermenegildo Zegna in the third quarter valued at $215,000. Jane Street Group LLC purchased a new position in Ermenegildo Zegna in the third quarter valued at $222,000. Finally, SG Americas Securities LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter worth $330,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.