Amer Sports, Inc. (NYSE:AS) Sees Significant Decrease in Short Interest

Amer Sports, Inc. (NYSE:AS) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 5,050,000 shares, a decrease of 6.3% from the January 15th total of 5,390,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily volume of 3,020,000 shares, the days-to-cover ratio is presently 1.7 days.

Amer Sports Stock Performance

NYSE:AS traded up $0.12 during midday trading on Monday, reaching $31.00. The stock had a trading volume of 1,768,037 shares, compared to its average volume of 2,408,095. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The stock has a market cap of $16.93 billion and a P/E ratio of -221.38. The firm has a fifty day simple moving average of $29.60 and a two-hundred day simple moving average of $21.50. Amer Sports has a 12-month low of $10.11 and a 12-month high of $34.00.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HSBC lowered Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, December 16th. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group raised their price target on Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, TD Cowen boosted their price objective on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Institutional Trading of Amer Sports

Hedge funds have recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in shares of Amer Sports in the 4th quarter valued at approximately $18,641,000. Woodline Partners LP acquired a new position in Amer Sports during the fourth quarter worth $14,135,000. Woodson Capital Management LP raised its position in Amer Sports by 29.8% in the fourth quarter. Woodson Capital Management LP now owns 1,050,000 shares of the company’s stock worth $29,358,000 after acquiring an additional 240,800 shares in the last quarter. Vident Advisory LLC acquired a new stake in Amer Sports in the fourth quarter valued at $19,791,000. Finally, Squarepoint Ops LLC boosted its position in shares of Amer Sports by 28.3% during the 4th quarter. Squarepoint Ops LLC now owns 450,000 shares of the company’s stock worth $12,582,000 after purchasing an additional 99,315 shares in the last quarter. 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.