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

Amer Sports, Inc. (NYSE:AS) saw 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. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 4.0 days. Approximately 9.1% of the company’s shares are sold short.

Amer Sports Stock Down 0.2 %

Shares of NYSE:AS traded down $0.03 during midday trading on Thursday, hitting $18.59. The stock had a trading volume of 420,951 shares, compared to its average volume of 1,658,290. Amer Sports has a 12 month low of $10.11 and a 12 month high of $19.73. The business’s 50-day simple moving average is $14.84 and its 200-day simple moving average is $14.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last issued its earnings results 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. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts predict that Amer Sports will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of research firms have issued reports on AS. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $17.00 to $19.00 in a research note on Monday. Evercore ISI reissued an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research note on Wednesday, August 21st. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. UBS Group increased their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, TD Cowen boosted their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.86.

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.