Swatch Group AG (OTCMKTS:SWGAY) Short Interest Down 88.6% in May

Swatch Group AG (OTCMKTS:SWGAY) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 9,690 shares, a decline of 88.6% from the May 14th total of 84,974 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 156,163 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SWGAY. Royal Bank Of Canada upgraded Swatch Group from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 13th. Zacks Research upgraded Swatch Group to a “hold” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Swatch Group has an average rating of “Hold”.

Swatch Group Trading Down 2.1%

SWGAY traded down $0.26 during trading hours on Wednesday, hitting $12.40. The stock had a trading volume of 225,104 shares, compared to its average volume of 95,606. The company’s fifty day simple moving average is $12.27 and its 200 day simple moving average is $11.50. Swatch Group has a 1 year low of $7.89 and a 1 year high of $13.97.

Swatch Group Company Profile

The Swatch Group is a Switzerland-based watchmaking conglomerate that designs, manufactures and distributes a broad portfolio of wristwatch and jewelry brands spanning entry-level fashion watches to high-end mechanical timepieces. Its stable of brands includes global names across multiple price segments, and the company is active in retail, wholesale and after-sales services. In addition to finished watches, Swatch Group produces key watch components and complete movements, supplying both its own brands and other firms in the industry.

Manufacturing and technical competence are central to the company’s operations.