Adidas AG (OTCMKTS:ADDYY) Short Interest Update

Adidas AG (OTCMKTS:ADDYY) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 75,865 shares, a growth of 855.6% from the August 31st total of 7,939 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 184,452 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Adidas

A hedge fund recently raised its stake in Adidas stock. GAMMA Investing LLC grew its stake in Adidas AG (OTCMKTS:ADDYY) by 53.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,101 shares of the company’s stock after purchasing an additional 732 shares during the quarter. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 at the end of the most recent reporting period.

Adidas Stock Up 2.4%

Shares of OTCMKTS ADDYY traded up $1.92 during trading on Friday, hitting $83.27. 12,768 shares of the company traded hands, compared to its average volume of 97,693. The business’s fifty day moving average is $90.51 and its 200 day moving average is $89.98. Adidas has a fifty-two week low of $75.19 and a fifty-two week high of $118.00. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39.

Adidas (OTCMKTS:ADDYY) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). Adidas had a return on equity of 22.35% and a net margin of 5.30%.The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.55 billion. Equities research analysts predict that Adidas will post 5.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup raised Adidas from a “buy” rating to an “overweight” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. began coverage on Adidas in a research note on Thursday, July 2nd. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adidas in a research note on Tuesday, June 30th. UBS Group lowered Adidas from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler restated an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.02.

About Adidas

Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.

Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.

The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.