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

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

Swatch Group Price Performance

Shares of OTCMKTS:SWGAY opened at $12.33 on Thursday. The firm has a fifty day moving average of $12.30 and a two-hundred day moving average of $11.51. Swatch Group has a 12-month low of $7.89 and a 12-month high of $13.97.

Analyst Upgrades and Downgrades

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

About Swatch Group

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.