adidas (OTCMKTS:ADDYY) Stock Crosses Below 50 Day Moving Average – Here’s Why

Shares of adidas AG (OTCMKTS:ADDYYGet Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $128.98 and traded as low as $120.95. adidas shares last traded at $122.14, with a volume of 36,081 shares.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded adidas from a “market perform” rating to an “outperform” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Check Out Our Latest Stock Report on adidas

adidas Stock Up 0.5 %

The company has a market capitalization of $43.62 billion, a PE ratio of 93.95 and a beta of 1.18. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $128.98 and its two-hundred day moving average is $124.56.

Hedge Funds Weigh In On adidas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of adidas by 13.3% during the 4th quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock worth $109,000 after acquiring an additional 105 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in adidas during the fourth quarter valued at $2,437,000. Finally, Mar Vista Investment Partners LLC raised its stake in adidas by 2.6% during the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company’s stock valued at $3,556,000 after purchasing an additional 731 shares in the last quarter.

adidas Company Profile

(Get Free Report)

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.

Further Reading

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