American Outdoor Brands, Inc. (NASDAQ:AOUT) Sees Large Growth in Short Interest

American Outdoor Brands, Inc. (NASDAQ:AOUT) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 115,600 shares, an increase of 69.3% from the December 15th total of 68,300 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 71,200 shares, the days-to-cover ratio is currently 1.6 days.

Hedge Funds Weigh In On American Outdoor Brands

Hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP lifted its holdings in shares of American Outdoor Brands by 70.8% in the second quarter. Brandes Investment Partners LP now owns 697,603 shares of the company’s stock valued at $6,178,000 after buying an additional 289,229 shares during the period. Renaissance Technologies LLC raised its position in American Outdoor Brands by 0.6% in the second quarter. Renaissance Technologies LLC now owns 271,068 shares of the company’s stock worth $2,440,000 after acquiring an additional 1,600 shares in the last quarter. Geode Capital Management LLC raised its position in American Outdoor Brands by 4.6% in the third quarter. Geode Capital Management LLC now owns 138,336 shares of the company’s stock worth $1,276,000 after acquiring an additional 6,092 shares in the last quarter. State Street Corp lifted its holdings in American Outdoor Brands by 3.9% in the 3rd quarter. State Street Corp now owns 45,786 shares of the company’s stock valued at $422,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of American Outdoor Brands by 35.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 38,817 shares of the company’s stock valued at $380,000 after purchasing an additional 10,065 shares in the last quarter. 49.87% of the stock is currently owned by institutional investors and hedge funds.

American Outdoor Brands Price Performance

NASDAQ AOUT opened at $16.24 on Friday. American Outdoor Brands has a 12 month low of $7.45 and a 12 month high of $16.73. The firm has a market capitalization of $207.22 million, a PE ratio of -27.52 and a beta of 0.26. The company’s 50 day simple moving average is $12.76 and its 200 day simple moving average is $10.29.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their target price on shares of American Outdoor Brands from $11.50 to $14.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.