Ferrari (NYSE:RACE) Sees Large Growth in Short Interest

Ferrari (NYSE:RACE) saw a significant 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. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 304,700 shares, the short-interest ratio is presently 5.2 days.

Institutional Trading of Ferrari

A number of institutional investors have recently bought and sold shares of the company. HBK Sorce Advisory LLC lifted its stake in shares of Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares during the period. Elite Wealth Management Inc. lifted its stake in Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after buying an additional 25 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC grew its position in shares of Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after buying an additional 26 shares during the period. Finally, PDS Planning Inc increased its stake in shares of Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after acquiring an additional 27 shares in the last quarter.

Ferrari Trading Up 2.7 %

Shares of NYSE RACE traded up $13.05 during midday trading on Friday, reaching $503.50. The stock had a trading volume of 379,594 shares, compared to its average volume of 331,985. The company’s 50 day moving average price is $439.23 and its 200 day moving average price is $452.06. 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 twelve month low of $386.27 and a twelve month high of $507.20. The firm has a market cap of $122.73 billion, a price-to-earnings ratio of 55.03, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95.

Analyst Upgrades and Downgrades

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

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.