Short Interest in Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) Decreases By 42.3%

Fast Retailing Co., Ltd. (OTCMKTS:FRCOY) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 55,137 shares, a decline of 42.3% from the July 15th total of 95,542 shares. Based on an average daily volume of 341,916 shares, the days-to-cover ratio is currently 0.2 days.

Fast Retailing Stock Down 3.1%

Shares of OTCMKTS FRCOY opened at $46.56 on Wednesday. Fast Retailing has a twelve month low of $29.25 and a twelve month high of $55.65. The stock has a fifty day simple moving average of $50.17 and a 200-day simple moving average of $46.25.

Fast Retailing (OTCMKTS:FRCOY) last announced its earnings results on Thursday, July 9th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research cut Fast Retailing from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein started coverage on shares of Fast Retailing in a research report on Tuesday, May 26th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Fast Retailing Company Profile

Fast Retailing Co, Ltd. is a Japanese retail holding company best known as the parent of Uniqlo, one of the world’s leading casual apparel brands. Headquartered in Yamaguchi Prefecture, Japan, Fast Retailing focuses on the design, manufacture and global distribution of everyday wear for men, women and children. Its core business centers on accessible, high-quality basics that blend functionality with minimalist styling, underpinned by proprietary fabric technologies such as HEATTECH and AIRism.

The company traces its roots to a men’s clothing shop founded by Tadashi Yanai’s family in 1963.