Farfetch (NYSE:FTCH) Shares Down 8.1%

Farfetch Ltd (NYSE:FTCH)’s share price dropped 8.1% during trading on Tuesday . The stock traded as low as $1.64 and last traded at $1.65. Approximately 1,450,602 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 13,364,105 shares. The stock had previously closed at $1.79.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group dropped their price target on Farfetch from $6.70 to $3.30 and set a “neutral” rating for the company in a research report on Friday, September 8th. Oppenheimer cut their price objective on shares of Farfetch from $8.00 to $5.50 and set an “outperform” rating for the company in a research report on Friday, August 18th. Credit Suisse Group lowered their target price on shares of Farfetch from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Morgan Stanley downgraded Farfetch from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $5.00 in a research report on Tuesday, August 29th. Finally, Societe Generale lowered Farfetch from a “buy” rating to a “sell” rating and set a $1.50 price target on the stock. in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.31.

Farfetch Trading Down 7.5 %

The company’s 50-day moving average is $1.80 and its 200 day moving average is $3.78. The company has a current ratio of 1.47, a quick ratio of 1.02 and a debt-to-equity ratio of 1.51. The firm has a market cap of $653.45 million, a PE ratio of -0.72 and a beta of 3.08.

Hedge Funds Weigh In On Farfetch

A number of large investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of Farfetch by 31.8% during the 1st quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock worth $75,000 after purchasing an additional 1,204 shares in the last quarter. CWM LLC increased its holdings in Farfetch by 12.6% in the second quarter. CWM LLC now owns 18,764 shares of the company’s stock worth $113,000 after buying an additional 2,103 shares during the last quarter. Guggenheim Capital LLC raised its position in Farfetch by 16.7% during the first quarter. Guggenheim Capital LLC now owns 17,414 shares of the company’s stock valued at $263,000 after acquiring an additional 2,497 shares in the last quarter. Orion Capital Management LLC lifted its stake in Farfetch by 18.2% in the second quarter. Orion Capital Management LLC now owns 16,270 shares of the company’s stock valued at $98,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Capital International Sarl grew its position in Farfetch by 22.0% in the first quarter. Capital International Sarl now owns 19,249 shares of the company’s stock worth $291,000 after acquiring an additional 3,474 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

About Farfetch

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.