Taking this into account, Citigroup initiated its Farfetch Limited [FTCH] rating to a Sell in a research note published on Tuesday, September 26, 2022; the price target was $6. PT values the company’s stock at a premium of 14.5 to its Tuesday closing price. A number of analysts have revised their coverage, including Cowen’s analysts, who decreased its forecast for the stock in early August from “an Outperform” to “a Market perform”. Piper Sandler began covering FTCH with “Neutral” recommendation on July 22, 2022. KeyBanc Capital Markets started covering the stock on July 21, 2022. It rated FTCH as “an Overweight”.
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Price Performance Review of FTCH
On Tuesday, Farfetch Limited [NYSE:FTCH] saw its stock fall -3.02% to $5.13. On the same session, the stock had its day’s lowest price of $5.10, but rose to a high of $5.3379. Over the last five days, the stock has gained 4.27%. Farfetch Limited shares have risen nearly 8.46% since the year began. Nevertheless, the stocks have fallen -75.48% over the past one year. While a 52-week high of $20.75 was reached on 02/02/23, a 52-week low of $3.64 was recorded on 01/03/23. SMA at 50 days reached $5.46, while 200 days put it at $7.59. A total of 8.89 million shares were traded, compared to the trading of 15.47 million shares in the previous session.
Levels Of Support And Resistance For FTCH Stock
The 24-hour chart illustrates a support level at 5.04, which if violated will result in even more drops to 4.95. On the upside, there is a resistance level at 5.28. A further resistance level may holdings at 5.43. The Relative Strength Index (RSI) on the 14-day chart is 41.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.55%. Stochastics %K at 26.01% indicates the stock is a holding.
How much short interest is there in Farfetch Limited?
A steep rise in short interest was recorded in Farfetch Limited stocks on Jan 30, 2023, growing by 0.53 million shares to a total of 26.88 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 26.35 million shares. There was a rise of 1.97%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.7.
Farfetch Limited [FTCH] – Who Are The Largest Shareholders?
In filings from Baillie Gifford & Co., it is revealed that the company now owns 46,960,424 shares, or roughly 13.88% of the outstanding FTCH shares. In other words, the investor’s shares have risen by 562,303 from its previous 13-F filing of 46398121.0. Additionally, T. Rowe Price Investment Manageme increased 17.57% of its stake after which the total value it holdings stand at $71,209,591, while Invesco Asset Management Ltd. added 1.76% of its stake to hold $67.44 million in the firm. Over the last quarter, ArrowMark Colorado Holdings LLC purchased 4,101,900 shares of Farfetch Limited, while Newton Investment Management Nort bought 5,371,798 shares. At present, Miller Value Partners LLC is holding 6,852,427 shares valued at $46.73 million. Viking Global Investors LP owned 6,771,235 shares of the company at the time of its most recent 13F filing, worth $46.18 million.
According to FactSet, Farfetch Limited’s share price will average $9.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 55.95 percent from its previous closing price of $5.29. Analysts expect Farfetch Limited stock to reach the higher price of $20.00, while the lowest price estimate is $5.00. However, 20 analysts have rated FTCH stock as an Overweight in their predictions for 2023.