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

Amer Sports, Inc. (NYSE:AS - Get Free Report) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 8,560,000 shares, a growth of 33.1% from the November 15th total of 6,430,000 shares. Based on an average trading volume of 2,660,000 shares, the short-interest ratio is currently 3.2 days. Approximately 13.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AS. FMR LLC lifted its position in Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company's stock valued at $120,151,000 after purchasing an additional 3,133,312 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Amer Sports by 557.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company's stock valued at $41,161,000 after acquiring an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. grew its position in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company's stock worth $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Hood River Capital Management LLC increased its stake in Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company's stock worth $48,983,000 after acquiring an additional 965,625 shares during the last quarter. Finally, Woodson Capital Management LP purchased a new stake in Amer Sports during the third quarter valued at approximately $12,907,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AS shares. The Goldman Sachs Group raised their target price on Amer Sports from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on Amer Sports from $15.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price objective on Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday. Nomura Securities upgraded shares of Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company upped their price target on shares of Amer Sports from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. 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's stock. Based on data from MarketBeat, Amer Sports presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.07.

Amer Sports Price Performance

Amer Sports stock traded up $0.77 during midday trading on Friday, reaching $27.65. 2,827,409 shares of the stock traded hands, compared to its average volume of 1,913,013. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Amer Sports has a 12 month low of $10.11 and a 12 month high of $27.79. The stock's fifty day moving average is $21.18 and its 200-day moving average is $16.11. The stock has a market cap of $15.11 billion and a P/E ratio of -197.49.

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.