Flight Centre Ltd. experienced a notable increase in short interest during January 2023, with the total short interest rising by **46.6%**. As of **January 30**, the company reported **605,106 shares** in short interest, up from **412,844 shares** on **January 15**. This surge indicates a growing concern among investors regarding the company’s stock performance.
Despite this increase in short interest, the average daily trading volume for Flight Centre remains at **0 shares**, leading to a days-to-cover ratio of **infinity** days. This situation suggests that there is currently a lack of trading activity, making it difficult for short sellers to cover their positions.
Price Performance and Analyst Ratings
On **Friday**, shares of Flight Centre (OTCMKTS:FGETF) opened at **$10.11**. The company has recorded a **12-month low** of **$8.07** and a **12-month high** of **$10.12**. The firm’s fifty-day moving average stands at **$9.79**, while the two-hundred-day moving average is **$8.69**.
In a separate development, the **Jefferies Financial Group** upgraded Flight Centre to a **”strong-buy”** rating in a research note released on **November 12, 2022**. Currently, one analyst has assigned a **Strong Buy** rating, while another has given the stock a **Buy** rating. According to data from **MarketBeat.com**, Flight Centre has an average rating of **“Strong Buy.”**
About Flight Centre
Founded in **1982** by **Graham Turner** and **Geoff Harris**, Flight Centre Travel Group is a global travel agency headquartered in **Brisbane, Australia**. The company operates across both the leisure and corporate travel segments, providing services that include travel booking, tailored itineraries, and comprehensive travel management solutions.
Flight Centre has grown from a single storefront in Sydney to a multinational enterprise, with an integrated network of retail stores and online platforms that cater to both individual and business clients. Their offerings encompass airfares, hotel accommodations, package tours, and various ancillary travel products.
With its broad range of services and a strong market presence, Flight Centre continues to be a significant player in the travel industry, adapting to the evolving needs of its customers.
