On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 12,640,000 shares, a decline of 13.7% from the February 28th total of 14,640,000 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily volume of 4,030,000 shares, the short-interest ratio is presently 3.1 days.

ON Stock Down 14.3 %

ONON stock traded down $6.44 during midday trading on Thursday, reaching $38.48. The stock had a trading volume of 15,106,946 shares, compared to its average volume of 4,442,716. ON has a twelve month low of $29.84 and a twelve month high of $64.05. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 89.44, a PEG ratio of 1.02 and a beta of 2.35. The business has a fifty day simple moving average of $51.23 and a two-hundred day simple moving average of $52.58.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. TD Cowen increased their price target on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Needham & Company LLC cut their price objective on shares of ON from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.45.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Apollon Wealth Management LLC grew its holdings in ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC boosted its position in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after purchasing an additional 349,789 shares during the period. Strategic Financial Concepts LLC bought a new stake in ON in the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after buying an additional 71,436 shares during the period. 36.39% of the stock is owned by institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.