On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 15,977,303 shares, a decrease of 29.1% from the January 15th total of 22,519,448 shares. Based on an average daily trading volume, of 4,726,514 shares, the short-interest ratio is presently 3.4 days. Currently, 2.5% of the company’s shares are short sold. Currently, 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 4,726,514 shares, the short-interest ratio is presently 3.4 days.

ON Stock Up 2.3%

ONON traded up $1.00 on Friday, hitting $45.27. The company had a trading volume of 3,154,954 shares, compared to its average volume of 4,640,669. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 58.82, a P/E/G ratio of 1.36 and a beta of 2.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The stock has a fifty day moving average price of $46.63 and a 200-day moving average price of $44.46. ON has a 12-month low of $34.38 and a 12-month high of $61.29.

Hedge Funds Weigh In On ON

Large investors have recently made changes to their positions in the business. Morgan Stanley grew its stake in ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after buying an additional 6,997,455 shares during the last quarter. Sinvest Investments II Ltd. acquired a new position in ON during the 4th quarter valued at approximately $390,432,000. Sands Capital Management LLC increased its stake in ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after purchasing an additional 2,155,083 shares in the last quarter. Winslow Capital Management LLC purchased a new position in shares of ON in the second quarter worth $248,113,000. Finally, Bamco Inc. NY lifted its position in ON by 14.7% during the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock worth $201,017,000 after acquiring an additional 606,579 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of ON in a report on Monday, January 5th. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $47.00 in a research report on Thursday, January 8th. Finally, Citigroup downgraded ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.86.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.