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

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

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in shares of Amer Sports in the 3rd quarter valued at $25,000. West Branch Capital LLC boosted its stake in Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares during the period. Kieckhefer Group LLC acquired a new position in Amer Sports in the 4th quarter worth $42,000. Signaturefd LLC acquired a new position in Amer Sports in the 3rd quarter worth $49,000. Finally, GAMMA Investing LLC boosted its stake in Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after purchasing an additional 742 shares during the period. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Trading Up 0.9 %

Shares of AS stock traded up $0.28 on Tuesday, hitting $31.27. The stock had a trading volume of 523,323 shares, compared to its average volume of 2,667,166. Amer Sports has a twelve month low of $10.11 and a twelve month high of $34.00. The firm has a market cap of $17.08 billion and a P/E ratio of -223.38. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $29.60 and a two-hundred day moving average price of $21.50.

Analyst Ratings Changes

Several equities analysts have weighed in on AS shares. Hsbc Global Res lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. raised their price target on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company raised their price target on Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Evercore ISI lifted their target price on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their target price on Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.64.

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.