Farfetch (NYSE:FTCH) Shares Gap Down to $4.98

Posted by on Jun 2nd, 2023

Farfetch Ltd (NYSE:FTCH – Get Rating) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.98, but opened at $4.83. Farfetch shares last traded at $4.91, with a volume of 490,499 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of Farfetch from $4.00 to $4.30 in a report on Thursday, May 25th. Piper Sandler cut their price objective on shares of Farfetch from $7.00 to $6.00 in a report on Friday, May 19th. Oppenheimer increased their price objective on shares of Farfetch from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Monday, February 27th. JMP Securities assumed coverage on shares of Farfetch in a report on Friday, March 24th. They set a “market perform” rating for the company. Finally, Credit Suisse Group increased their price objective on shares of Farfetch from $11.00 to $12.00 in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.49.

Farfetch Stock Up 1.1 %

The business has a 50-day moving average of $4.44 and a 200-day moving average of $5.24. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.75 and a quick ratio of 1.30.

Institutional Trading of Farfetch

A number of institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in Farfetch by 31.8% in the first quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock worth $75,000 after buying an additional 1,204 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Farfetch by 12.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 18,300 shares of the company’s stock worth $136,000 after purchasing an additional 2,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Farfetch by 12.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,550 shares of the company’s stock worth $92,000 after purchasing an additional 2,198 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Farfetch by 16.7% during the first quarter. Guggenheim Capital LLC now owns 17,414 shares of the company’s stock worth $263,000 after purchasing an additional 2,497 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Farfetch by 86.6% during the third quarter. Signaturefd LLC now owns 5,825 shares of the company’s stock worth $43,000 after purchasing an additional 2,704 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors.

About Farfetch

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Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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