Fossil Group (NASDAQ:FOSL) Stock Crosses Above 200-Day Moving Average – Here’s Why

Fossil Group, Inc. (NASDAQ:FOSL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.23 and traded as high as $1.30. Fossil Group shares last traded at $1.19, with a volume of 201,921 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Fossil Group from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Fossil Group Trading Down 8.5 %

The company has a 50 day simple moving average of $1.18 and a 200 day simple moving average of $1.23. The stock has a market capitalization of $63.30 million, a PE ratio of -0.51 and a beta of 2.18. The company has a current ratio of 1.81, a quick ratio of 1.10 and a debt-to-equity ratio of 1.07.

Institutional Investors Weigh In On Fossil Group

Several hedge funds have recently modified their holdings of FOSL. Nantahala Capital Management LLC increased its stake in Fossil Group by 45.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,905,278 shares of the accessories brand company’s stock valued at $2,696,000 after buying an additional 598,940 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fossil Group during the second quarter worth about $131,000. Price T Rowe Associates Inc. MD raised its holdings in Fossil Group by 97.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 99,488 shares of the accessories brand company’s stock worth $102,000 after purchasing an additional 49,100 shares in the last quarter. XTX Topco Ltd purchased a new position in Fossil Group during the third quarter worth about $48,000. Finally, RBF Capital LLC lifted its position in Fossil Group by 12.7% in the third quarter. RBF Capital LLC now owns 289,679 shares of the accessories brand company’s stock valued at $339,000 after purchasing an additional 32,580 shares during the period. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.