Amer Sports, Inc. (NYSE:AS) Sees Large Growth in Short Interest

by · The Markets Daily

Amer Sports, Inc. (NYSE:AS – Get Free Report) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 8,880,000 shares, an increase of 40.5% from the February 13th total of 6,320,000 shares. Currently, 8.3% of the shares of the stock are sold short. Based on an average trading volume of 3,450,000 shares, the short-interest ratio is currently 2.6 days.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in AS. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the third quarter valued at $25,000. West Branch Capital LLC raised its position in shares of Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Amer Sports during the fourth quarter worth approximately $42,000. GAMMA Investing LLC boosted its holdings in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after purchasing an additional 742 shares in the last quarter. Finally, Quarry LP purchased a new position in Amer Sports in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AS. Hsbc Global Res cut Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Sanford C. Bernstein began coverage on Amer Sports in a research note on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective on the stock. TD Cowen raised their target price on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.64.

View Our Latest Report on AS

Amer Sports Trading Up 4.1 %

Shares of AS stock traded up $1.09 on Friday, hitting $27.70. The stock had a trading volume of 4,881,852 shares, compared to its average volume of 3,435,652. The company’s 50 day moving average price is $29.93 and its 200-day moving average price is $23.75. Amer Sports has a 1 year low of $10.11 and a 1 year high of $34.00. The firm has a market capitalization of $15.34 billion and a P/E ratio of -197.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Amer Sports (NYSE:AS – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. The company’s revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Amer Sports will post 0.46 earnings per share for the current year.

Amer Sports Company Profile

(Get Free Report)

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.

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