Short Interest in Amer Sports, Inc. (NYSE:AS) Increases By 9.9%

Amer Sports, Inc. (NYSE:AS) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 6,800,000 shares, a growth of 9.9% from the September 30th total of 6,190,000 shares. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is currently 3.9 days. Approximately 10.0% of the company’s shares are sold short.

Analysts Set New Price Targets

AS has been the topic of a number of research analyst reports. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. UBS Group upped their price target on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. TD Cowen increased their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI reissued an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amer Sports presently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

Institutional Trading of Amer Sports

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in shares of Amer Sports in the 3rd quarter worth $49,000. CWM LLC bought a new position in Amer Sports during the third quarter valued at approximately $73,000. Dnca Finance bought a new position in shares of Amer Sports during the 2nd quarter valued at approximately $81,000. Amalgamated Bank purchased a new position in shares of Amer Sports in the second quarter valued at $83,000. Finally, Sei Investments Co. increased its position in Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock worth $919,000 after purchasing an additional 13,748 shares during the last quarter. Institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Up 2.4 %

Shares of AS traded up $0.43 on Thursday, reaching $18.05. The stock had a trading volume of 1,303,831 shares, compared to its average volume of 1,664,333. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $16.08 and a 200-day simple moving average of $14.31. Amer Sports has a 12-month low of $10.11 and a 12-month high of $19.73.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts forecast that Amer Sports will post 0.43 EPS for the current fiscal year.

Amer Sports Company Profile

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.