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

Amer Sports, Inc. (NYSE:AS) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 13,100,000 shares, an increase of 47.5% from the February 28th total of 8,880,000 shares. Currently, 12.1% of the shares of the company are short sold. Based on an average daily volume of 3,150,000 shares, the short-interest ratio is presently 4.2 days.

Hedge Funds Weigh In On Amer Sports

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after buying an additional 742 shares during the period. West Branch Capital LLC grew its holdings in Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after acquiring an additional 1,000 shares during the last quarter. Signaturefd LLC increased its position in Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock valued at $116,000 after acquiring an additional 1,073 shares during the period. Sterling Capital Management LLC raised its stake in shares of Amer Sports by 55.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock valued at $97,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Amer Sports during the fourth quarter valued at $42,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

Shares of Amer Sports stock traded down $0.10 during midday trading on Tuesday, hitting $26.64. 1,415,867 shares of the company traded hands, compared to its average volume of 2,291,623. The firm’s fifty day moving average price is $29.58 and its 200-day moving average price is $24.94. The stock has a market cap of $14.75 billion and a price-to-earnings ratio of -190.38. Amer Sports has a 12 month low of $10.11 and a 12 month high of $34.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. The company’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast that Amer Sports will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup raised their price target on Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, TD Cowen raised their target price on shares of Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.64.

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.