Short Interest in adidas AG (OTCMKTS:ADDYY) Drops By 50.0%

adidas AG (OTCMKTS:ADDYY) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 10,300 shares, a decrease of 50.0% from the February 29th total of 20,600 shares. Based on an average daily volume of 77,100 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded adidas from a “sector perform” rating to an “outperform” rating in a research report on Monday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

adidas Stock Up 0.8 %

Shares of ADDYY stock opened at $112.08 on Friday. adidas has a 1-year low of $78.33 and a 1-year high of $113.19. The business has a 50-day moving average of $99.65 and a 200 day moving average of $96.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 1.29.

adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.36). The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.22 billion. adidas had a negative net margin of 0.33% and a negative return on equity of 2.17%. On average, equities analysts anticipate that adidas will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On adidas

Several institutional investors and hedge funds have recently bought and sold shares of ADDYY. PNC Financial Services Group Inc. lifted its holdings in adidas by 111.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after buying an additional 675 shares during the period. Mar Vista Investment Partners LLC lifted its holdings in adidas by 12.6% in the 1st quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock worth $4,196,000 after buying an additional 3,993 shares during the period. Rhumbline Advisers purchased a new stake in adidas in the 2nd quarter worth approximately $809,000. Comerica Bank purchased a new stake in adidas in the 2nd quarter worth approximately $247,000. Finally, Capital Square LLC purchased a new stake in adidas in the 4th quarter worth approximately $1,405,000.

adidas Company Profile

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.