Ferrari (NYSE:RACE) Short Interest Up 14.5% in January

Ferrari (NYSE:RACE) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 1,580,000 shares, a growth of 14.5% from the January 15th total of 1,380,000 shares. Based on an average daily trading volume, of 304,700 shares, the short-interest ratio is currently 5.2 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Ferrari in the third quarter valued at about $29,000. Hanson & Doremus Investment Management bought a new stake in Ferrari in the fourth quarter valued at approximately $26,000. Planning Capital Management Corp acquired a new stake in Ferrari during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Ferrari during the 3rd quarter valued at approximately $33,000. Finally, FSC Wealth Advisors LLC bought a new position in Ferrari during the 3rd quarter worth approximately $47,000.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of recent analyst reports. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group lifted their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Evercore ISI upped their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

RACE stock opened at $503.50 on Monday. The company has a market capitalization of $122.73 billion, a P/E ratio of 55.03, a PEG ratio of 4.04 and a beta of 0.95. The company has a fifty day moving average price of $439.23 and a 200-day moving average price of $452.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $386.27 and a 52-week high of $507.20.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.