adidas AG (OTCMKTS:ADDYY) Sees Significant Drop in Short Interest

adidas AG (OTCMKTS:ADDYY) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 6,500 shares, a drop of 50.8% from the October 31st total of 13,200 shares. Based on an average daily trading volume, of 82,500 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On adidas

Several hedge funds have recently bought and sold shares of ADDYY. GAMMA Investing LLC grew its stake in adidas by 23.9% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $73,000 after acquiring an additional 118 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in adidas during the second quarter valued at approximately $4,809,000. Finally, Capital Square LLC purchased a new position in adidas during the second quarter valued at approximately $1,616,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HSBC downgraded shares of adidas from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Barclays reiterated an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

adidas Stock Up 0.1 %

ADDYY opened at $116.22 on Thursday. The company has a market capitalization of $44.53 billion, a price-to-earnings ratio of 89.40 and a beta of 1.22. The firm has a 50-day moving average price of $121.40 and a 200-day moving average price of $121.78. adidas has a twelve month low of $88.03 and a twelve month high of $134.39.

adidas (OTCMKTS:ADDYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.25. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.01 billion. adidas had a net margin of 1.91% and a return on equity of 7.93%. On average, sell-side analysts expect that adidas will post 2.06 earnings per share for the current fiscal year.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.