On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 12,640,000 shares, a decrease of 13.7% from the February 28th total of 14,640,000 shares. Currently, 5.8% of the company’s shares are sold short. Based on an average daily volume of 4,030,000 shares, the short-interest ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ONON. Stifel Nicolaus lifted their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Hsbc Global Res upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Needham & Company LLC reduced their price target on shares of ON from $64.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley boosted their price objective on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group began coverage on ON in a report on Tuesday. They issued a “hold” rating and a $44.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $60.45.

ON Trading Down 14.3 %

NYSE ONON traded down $6.44 on Thursday, hitting $38.48. 15,106,946 shares of the company’s stock were exchanged, compared to its average volume of 4,442,716. ON has a 52 week low of $29.84 and a 52 week high of $64.05. The stock has a 50-day moving average of $51.23 and a 200-day moving average of $52.58. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 89.44, a P/E/G ratio of 1.02 and a beta of 2.35.

Hedge Funds Weigh In On ON

Institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new position in shares of ON during the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in ON in the 1st quarter worth about $32,000. Legacy Bridge LLC bought a new position in ON in the fourth quarter valued at about $43,000. Bernard Wealth Management Corp. acquired a new stake in shares of ON during the fourth quarter valued at about $44,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of ON during the fourth quarter worth about $53,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.