Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,050,000 shares, a growth of 26.5% from the November 15th total of 1,620,000 shares. Based on an average daily trading volume, of 926,500 shares, the short-interest ratio is presently 2.2 days. Currently, 3.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZGN shares. Bank of America cut Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $9.80 in a report on Monday, September 23rd. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 price target on the stock.

Ermenegildo Zegna Stock Up 1.6 %

ZGN traded up $0.14 during trading hours on Friday, reaching $8.78. The company’s stock had a trading volume of 674,846 shares, compared to its average volume of 618,459. Ermenegildo Zegna has a fifty-two week low of $7.13 and a fifty-two week high of $15.26. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average is $8.03 and its 200-day moving average is $9.79.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC increased its position in shares of 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 purchasing an additional 2,100 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ermenegildo Zegna during the third quarter valued at about $149,000. XTX Topco Ltd purchased a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $215,000. Jane Street Group LLC acquired a new position in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $222,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $330,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.