On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON - Get Free Report) saw a significant decrease in short interest during the month of 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. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.8% of the shares of the company are sold short.

Hedge Funds Weigh In On ON

Institutional investors have recently added to or reduced their stakes in the business. Sage Capital Advisors llc increased its stake in shares of ON by 0.3% in the 1st quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after acquiring an additional 269 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON during the 1st quarter worth about $32,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of ON by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company's stock valued at $1,025,000 after buying an additional 705 shares during the period. Wealthedge Investment Advisors LLC acquired a new position in ON during the 4th quarter worth approximately $1,556,000. Finally, Park Square Financial Group LLC acquired a new stake in ON in the fourth quarter valued at approximately $32,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ONON. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group cut shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective for the company. in a research note on Wednesday, February 12th. Williams Trading lifted their price target on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Citigroup assumed coverage on ON in a research report on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price target on the stock. Finally, Bank of America assumed coverage on ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.45.

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ON Stock Up 3.5 %

ONON traded up $1.37 during trading on Monday, reaching $40.98. 14,380,673 shares of the stock traded hands, compared to its average volume of 4,565,814. The stock's 50-day moving average is $50.36 and its 200 day moving average is $52.44. ON has a 12 month low of $29.84 and a 12 month high of $64.05. The stock has a market capitalization of $25.80 billion, a PE ratio of 95.30, a P/E/G ratio of 1.02 and a beta of 2.32.

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.