Short Interest in Amer Sports, Inc. (NYSE:AS) Expands By 9.9%

Amer Sports, Inc. (NYSE:AS - Get Free Report) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 6,800,000 shares, an increase of 9.9% from the September 30th total of 6,190,000 shares. Based on an average trading volume of 1,740,000 shares, the short-interest ratio is currently 3.9 days. Approximately 10.0% of the company's stock are sold short.

Hedge Funds Weigh In On Amer Sports

Large investors have recently made changes to their positions in the stock. WT Asset Management Ltd lifted its holdings in shares of Amer Sports by 104.4% in the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company's stock worth $19,956,000 after buying an additional 638,939 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Amer Sports by 47.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 116,970 shares of the company's stock worth $1,866,000 after purchasing an additional 37,500 shares in the last quarter. Signaturefd LLC purchased a new stake in Amer Sports in the 3rd quarter worth approximately $49,000. Seven Grand Managers LLC boosted its holdings in Amer Sports by 566.7% in the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $1,595,000 after purchasing an additional 85,000 shares during the period. Finally, Creative Planning purchased a new position in shares of Amer Sports during the 3rd quarter valued at $656,000. 40.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on AS shares. Nomura Securities raised Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. UBS Group raised their price objective on Amer Sports from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. TD Cowen upped their target price on shares of Amer Sports from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Wells Fargo & Company lowered shares of Amer Sports from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.86.

Amer Sports Stock Down 3.3 %

AS traded down $0.60 during trading hours on Wednesday, hitting $17.62. The stock had a trading volume of 3,455,941 shares, compared to its average volume of 1,666,675. Amer Sports has a 1 year low of $10.11 and a 1 year high of $19.73. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $16.01 and its 200 day simple moving average is $14.28.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Analysts predict that Amer Sports will post 0.43 earnings per share for the current fiscal year.

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.