Adidas AG (OTCMKTS:ADDYY – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 75,865 shares, an increase of 855.6% from the August 31st total of 7,939 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 184,452 shares, the days-to-cover ratio is currently 0.4 days.
Hedge Funds Weigh In On Adidas
A hedge fund recently raised its position in Adidas stock. Madison Asset Management LLC raised its stake in shares of Adidas AG (OTCMKTS:ADDYY – Free Report) by 7.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,125 shares of the company’s stock after buying an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent quarter.
Adidas Stock Performance
Shares of ADDYY traded down $0.68 during trading hours on Thursday, reaching $81.35. 84,772 shares of the company traded hands, compared to its average volume of 98,201. The stock has a market capitalization of $29.07 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.19 and a beta of 1.25. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. Adidas has a 12-month low of $75.19 and a 12-month high of $118.00. The business has a fifty day moving average price of $90.97 and a 200-day moving average price of $89.99.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating on shares of Adidas in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research note on Tuesday, June 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Adidas in a research report on Thursday, September 10th. Finally, Barclays upgraded Adidas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.
View Our Latest Analysis on ADDYY
About Adidas
Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.
Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.
The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.
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