Adidas AG (OTCMKTS:ADDYY) Sees Significant Increase in Short Interest

Adidas AG (OTCMKTS:ADDYY) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 78,600 shares, a growth of 223.4% from the June 15th total of 24,305 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 183,005 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. assumed coverage on shares of Adidas in a report on Thursday, July 2nd. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised shares of Adidas from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adidas has a consensus rating of “Moderate Buy” and an average target price of $146.02.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its stake in Adidas stock. GAMMA Investing LLC lifted its position in Adidas AG (OTCMKTS:ADDYY) by 53.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,101 shares of the company’s stock after purchasing an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Adidas Stock Down 1.5%

Shares of ADDYY opened at $102.45 on Wednesday. The company has a market capitalization of $36.61 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.37 and a beta of 1.24. Adidas has a 52 week low of $75.19 and a 52 week high of $122.29. The stock’s 50-day moving average price is $96.38 and its 200-day moving average price is $90.41. The company has a quick ratio of 0.71, a current ratio of 1.35 and a debt-to-equity ratio of 0.31.

Adidas (OTCMKTS:ADDYY) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Adidas had a return on equity of 22.97% and a net margin of 5.52%.The company had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.36 billion. On average, sell-side analysts predict that Adidas will post 5.48 EPS for the current year.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.