With the current price of $5.35,the stock of Fossil Group,Inc. (NASDAQ:FOSL) concluded the trading session seeing its price drop by -0.21 points or at a loss of -3.78% compared to its previous day’s closing price of $5.56. About 1.434 million shares of the stock changed hands on the day. The trading volume of FOSL’s shares during the past session compares with the stock’s average daily trading volume of 2.043 million shares. On the other hand,a float of 46.31 million shares and a weekly performance of 15.3% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $2.5 for FOSL’s share which suggests that the stock,price of which is currently buoying between $5.2 and $5.66,is prone to a loss of -53.27%. But still,there are some analysts recommending a price below the agreed average price and one of them has given a target price of $2.5 to the stock.
The latest data released on July 31,2020 shows that the short float in the Fossil Group,Inc.’s stock is trending downward as short interest in FOSL shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the FOSL is currently comprised of 26.68% of the float as the volume of shorted shares declined by -445656 shares. Over the past two weeks,stock’s short interests improved as number of shorted shares reduced to 12.356 million shares from the previous figure of 12.802 million shares. Stock’s average intraday volume is now standing at 0.94 million shares which indicate that the days to cover the shorts are nearly 13.142574.
After concluding the day’s trading,price of Fossil Group,Inc. (NASDAQ:FOSL) is up $0.66 over the week and it is $1.31 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $14.11 that was attained on 09/11/19.
The stock has traded as low as $2.69 in past 52-week,and its current price is 98.88% above from that 52-week low price mark recorded on 05/20/20,which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 63.39 as 14-days RSI of Fossil Group,Inc. This means that the FOSL is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly,the stochastic oscillator is indicating a momentum of 85.25%,implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $5.57 for the FOSL’s share while placing it at a 2nd resistance point of $5.85 to be settled at. But if the stock takes a plunge lower than the 1st support price of $5.11 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $4.93.
MACD oscillator is showing a reading of 0.48 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average,which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Telsey Advisory Group maintained its Market Perform recommendation for FOSL stock in a review note dated February 27,but moved the price target down from $7 to $5. The stock gets its recommendation downgraded from Overweight to Sector Weight from the analysts at KeyBanc Capital Markets in their November 07 note to investors.Telsey Advisory Group analysts reiterated their recommendation of Market Perform rating for the stock on August 05 while suggesting a price target of $12 which previously was $15.
The average rating of 4 for FOSL is placing the stock in bearish category at the moment. In a poll by Reuters including 1 analysts in it who kept tracking the Fossil Group,Inc.,0 rated the stock as hold. Others were in different opinions for the FOSL. Out of remaining 1 analysts,0 rated the stock as a buy or strong buy. 1 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
Projection by Zacks Consensus Estimates suggests that Fossil Group,Inc. (NASDAQ:FOSL) will see its current-quarter revenues drop by nearly -99.87% to be decreased to about $326 million. Full-year revenue of the company is however forecasted to be fell to nearly -32.43% to bring $1500 million in revenues against last year revenue of $2220 million. Earnings,after adjustments,are likely to surge by 380% to post an EPS of -$0.72,while estimate for company’s full year earnings is -$2.27 per share with a growth rate of 312.73%.