Short Interest in Amer Sports, Inc. (NYSE:AS) Increases By 9.9%

Amer Sports, Inc. (NYSE:AS) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 6,800,000 shares, an increase of 9.9% from the September 30th total of 6,190,000 shares. Approximately 10.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

AS has been the topic of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. TD Cowen boosted their price target on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.86.

Amer Sports Trading Up 2.4 %

Shares of AS traded up $0.43 during mid-day trading on Thursday, reaching $18.05. The company had a trading volume of 1,303,831 shares, compared to its average volume of 1,664,333. Amer Sports has a 52-week low of $10.11 and a 52-week high of $19.73. The stock has a 50 day moving average of $16.08 and a two-hundred day moving average of $14.31. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors have recently added to or reduced their stakes in AS. WT Asset Management Ltd grew its holdings in shares of Amer Sports by 104.4% during the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock worth $19,956,000 after buying an additional 638,939 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Amer Sports by 47.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 116,970 shares of the company’s stock valued at $1,866,000 after purchasing an additional 37,500 shares during the period. Signaturefd LLC purchased a new position in shares of Amer Sports during the 3rd quarter worth approximately $49,000. Seven Grand Managers LLC grew its stake in shares of Amer Sports by 566.7% in the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $1,595,000 after buying an additional 85,000 shares in the last quarter. Finally, Creative Planning acquired a new position in Amer Sports during the 3rd quarter worth approximately $656,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.