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

Amer Sports, Inc. (NYSE:AS) was the target of a significant drop in short interest in the month of 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. Currently, 9.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 4.0 days.

Amer Sports Stock Up 0.2 %

Shares of NYSE:AS traded up $0.04 during mid-day trading on Thursday, reaching $18.66. 337,753 shares of the company traded hands, compared to its average volume of 1,657,825. The company’s 50 day moving average price is $14.84 and its 200-day moving average price is $14.09. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Amer Sports has a 52 week low of $10.11 and a 52 week high of $19.73.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AS. CWM LLC purchased a new position in Amer Sports in the 3rd quarter worth approximately $73,000. Dnca Finance purchased a new position in Amer Sports in the 2nd quarter worth approximately $81,000. Amalgamated Bank purchased a new position in Amer Sports in the 2nd quarter worth approximately $83,000. Artemis Investment Management LLP purchased a new position in Amer Sports in the 3rd quarter worth approximately $293,000. Finally, Summit Securities Group LLC purchased a new position in Amer Sports in the 2nd quarter worth approximately $297,000. 40.25% of the stock is currently owned by institutional investors.

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.