Swatch Group (OTCMKTS:SWGAY) Shares Gap Up – Still a Buy?
by Mitch Edgeman · The Markets DailySwatch Group AG (OTCMKTS:SWGAY – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $12.33, but opened at $13.0650. Swatch Group shares last traded at $12.98, with a volume of 2,458 shares changing hands.
Wall Street Analysts Forecast Growth
SWGAY has been the topic of a number of research reports. Zacks Research upgraded shares of Swatch Group to a “hold” rating in a research note on Friday, May 8th. Royal Bank Of Canada upgraded shares of Swatch Group from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.
Read Our Latest Stock Report on Swatch Group
Swatch Group Stock Up 1.1%
The stock’s fifty day simple moving average is $12.34 and its 200-day simple moving average is $11.53.
About Swatch Group
The Swatch Group is a Switzerland-based watchmaking conglomerate that designs, manufactures and distributes a broad portfolio of wristwatch and jewelry brands spanning entry-level fashion watches to high-end mechanical timepieces. Its stable of brands includes global names across multiple price segments, and the company is active in retail, wholesale and after-sales services. In addition to finished watches, Swatch Group produces key watch components and complete movements, supplying both its own brands and other firms in the industry.
Manufacturing and technical competence are central to the company’s operations.