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

Amer Sports, Inc. (NYSE:AS) was the target of a significant increase in short interest in 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. Approximately 8.3% of the company’s stock are sold short. Based on an average trading volume of 3,450,000 shares, the short-interest ratio is presently 2.6 days.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in Amer Sports in the third quarter worth about $25,000. West Branch Capital LLC lifted its position in shares of Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares during the period. Kieckhefer Group LLC purchased a new stake in Amer Sports in the fourth quarter worth $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 worth $54,000 after acquiring an additional 742 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Amer Sports in the third quarter worth $61,000. 40.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AS has been the subject of several research analyst reports. HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Monday, December 16th. Robert W. Baird increased their price target on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group lifted their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Evercore ISI increased their target price on shares of Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Hsbc Global Res cut Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.64.

Amer Sports Stock Performance

AS stock traded up $0.78 during trading hours on Monday, reaching $28.48. The stock had a trading volume of 2,738,484 shares, compared to its average volume of 2,183,655. 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 has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The stock has a 50-day simple moving average of $29.93 and a 200 day simple moving average of $23.82. The stock has a market capitalization of $15.77 billion and a PE ratio of -203.38.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts predict that Amer Sports will post 0.46 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.