adidas AG (OTCMKTS:ADDYY – Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 50.0% from the February 29th total of 20,600 shares. Based on an average daily trading volume, of 77,100 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On adidas
Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of adidas during the fourth quarter valued at approximately $45,000. PNC Financial Services Group Inc. grew its stake in adidas by 111.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after buying an additional 675 shares during the last quarter. Comerica Bank acquired a new stake in adidas in the second quarter worth $247,000. Rhumbline Advisers bought a new stake in adidas in the second quarter valued at $809,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of adidas by 27.5% during the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after acquiring an additional 2,749 shares during the period.
adidas Trading Up 0.7 %
adidas stock opened at $111.19 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $99.23 and its 200 day moving average price is $96.72. adidas has a 12-month low of $76.06 and a 12-month high of $113.19.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada raised shares of adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.
View Our Latest Research Report on adidas
adidas Company Profile
adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle east, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear; apparel; and accessories and gear, such as bags and balls under the adidas brand.
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