On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 15,977,303 shares, a decrease of 29.1% from the January 15th total of 22,519,448 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 4,726,514 shares, the short-interest ratio is currently 3.4 days. Based on an average daily trading volume, of 4,726,514 shares, the short-interest ratio is currently 3.4 days. Currently, 2.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have commented on ONON shares. Zacks Research upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Citigroup downgraded shares of ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. KeyCorp cut their price target on ON from $68.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Finally, Morgan Stanley upped their target price on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.86.

Institutional Trading of ON

Several institutional investors have recently bought and sold shares of ONON. Cullen Frost Bankers Inc. increased its position in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in ON in the 2nd quarter valued at $29,000. MidAtlantic Capital Management Inc. purchased a new stake in ON in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its position in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after purchasing an additional 421 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

Shares of ON stock traded up $1.00 during trading hours on Friday, reaching $45.27. The stock had a trading volume of 3,154,954 shares, compared to its average volume of 4,640,669. The stock’s 50 day moving average is $46.63 and its 200 day moving average is $44.46. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. ON has a twelve month low of $34.38 and a twelve month high of $61.29. The firm has a market capitalization of $28.43 billion, a PE ratio of 58.82, a PEG ratio of 1.36 and a beta of 2.15.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.