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

Amer Sports, Inc. (NYSE:AS) was the target of a significant drop in short interest in the month of 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. Based on an average trading volume of 3,020,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Amer Sports

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Amer Sports by 250.7% during the 4th quarter. FMR LLC now owns 26,414,511 shares of the company’s stock worth $738,550,000 after buying an additional 18,881,504 shares during the period. Brilliance Asset Management Ltd. boosted its position in Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock worth $113,883,000 after buying an additional 196,380 shares during the period. Candlestick Capital Management LP boosted its position in Amer Sports by 1.7% during the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company’s stock worth $108,052,000 after buying an additional 63,078 shares during the period. WT Asset Management Ltd boosted its position in Amer Sports by 188.2% during the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after buying an additional 2,355,182 shares during the period. Finally, Marshall Wace LLP boosted its position in Amer Sports by 262.5% during the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock worth $92,720,000 after buying an additional 2,401,302 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. TD Cowen raised their price target on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. HSBC lowered shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Monday, December 16th. Evercore ISI raised their target price on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Morgan Stanley raised their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports has an average rating of “Moderate Buy” and an average target price of $28.64.

Amer Sports Trading Up 0.6 %

Shares of Amer Sports stock opened at $31.18 on Wednesday. The firm’s 50 day moving average is $29.70 and its 200 day moving average is $21.65. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. 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 $17.03 billion and a PE ratio of -222.66.

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.