Short Interest in Amer Sports, Inc. (NYSE:AS) Drops By 9.6%

Amer Sports, Inc. (NYSE:AS) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 6,190,000 shares, a drop of 9.6% from the September 15th total of 6,850,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is currently 4.0 days. Currently, 9.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

AS has been the subject of several recent analyst reports. UBS Group boosted their price target on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research note on Monday. Finally, TD Cowen raised their target price on Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.86.

Amer Sports Trading Down 1.2 %

Shares of NYSE AS traded down $0.23 during trading on Thursday, hitting $18.39. 1,012,978 shares of the company were exchanged, compared to its average volume of 1,661,598. The company has a fifty day moving average price of $14.84 and a 200-day moving average price of $14.09. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. Amer Sports has a 12-month low of $10.11 and a 12-month high of $19.73.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AS. CWM LLC purchased a new stake in Amer Sports in the 3rd quarter valued at about $73,000. Dnca Finance acquired a new stake in shares of Amer Sports during the second quarter valued at about $81,000. Amalgamated Bank purchased a new stake in shares of Amer Sports in the 2nd quarter valued at approximately $83,000. Artemis Investment Management LLP acquired a new position in shares of Amer Sports in the 3rd quarter worth approximately $293,000. Finally, Summit Securities Group LLC purchased a new position in shares of Amer Sports during the 2nd quarter worth approximately $297,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.