Short Interest in The Swatch Group AG (OTCMKTS:SWGAY) Rises By 319.8%

The Swatch Group AG (OTCMKTS:SWGAY – Get Rating) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 38,200 shares, an increase of 319.8% from the April 30th total of 9,100 shares. Based on an average daily trading volume, of 314,500 shares, the days-to-cover ratio is presently 0.1 days.

SWGAY stock opened at $11.78 on Thursday. The business’s fifty day moving average is $13.04 and its 200-day moving average is $14.26. The Swatch Group has a twelve month low of $11.36 and a twelve month high of $18.59.

The business also recently declared a dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 27th will be paid a $0.1573 dividend. This represents a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, May 26th.

Several research firms have issued reports on SWGAY. Credit Suisse Group reduced their price objective on The Swatch Group from CHF 375 to CHF 360 in a report on Wednesday, January 26th. Morgan Stanley reduced their price objective on The Swatch Group from CHF 280 to CHF 254 and set an “underweight” rating on the stock in a report on Monday, May 16th. Finally, Societe Generale reduced their price objective on The Swatch Group from CHF 330 to CHF 290 and set a “hold” rating on the stock in a report on Thursday, April 21st. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $301.33.

About The Swatch Group (Get Rating)

The Swatch Group AG designs, manufactures, and sells finished watches, jewelry, and watch movements and components worldwide. It operates through Watches & Jewelry and Electronic Systems segments. The Watches & Jewelry segment designs, produces, and commercializes watches and jewelry. The Electronic Systems segment is involved in the design, production, and commercialization of electronic components, as well as sports timing activities.

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