Adidas AG (OTCMKTS:ADDYY) Sees Large Drop in Short Interest

Adidas AG (OTCMKTS:ADDYY) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 59,648 shares, a drop of 30.8% from the January 15th total of 86,188 shares. Based on an average daily volume of 347,344 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are sold short. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 347,344 shares, the days-to-cover ratio is currently 0.2 days.

Adidas Stock Performance

ADDYY stock opened at $91.94 on Friday. Adidas has a 1-year low of $84.03 and a 1-year high of $136.62. The business has a 50-day moving average price of $93.81 and a 200 day moving average price of $98.09. The company has a market capitalization of $32.83 billion, a P/E ratio of 24.07, a PEG ratio of 0.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.31 and a quick ratio of 0.71.

Wall Street Analyst Weigh In

ADDYY has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $146.02 price objective on shares of Adidas in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a report on Wednesday, December 10th. Santander assumed coverage on Adidas in a research report on Thursday, January 15th. They set an “outperform” rating for the company. Citigroup reaffirmed a “buy” rating on shares of Adidas in a report on Tuesday, February 3rd. Finally, Bank of America reissued an “underperform” rating on shares of Adidas in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.02.

Hedge Funds Weigh In On Adidas

Several institutional investors have recently made changes to their positions in ADDYY. Yousif Capital Management LLC lifted its stake in shares of Adidas by 9.4% in the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock valued at $607,000 after purchasing an additional 450 shares during the period. Mar Vista Investment Partners LLC raised its position in shares of Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock worth $3,550,000 after acquiring an additional 1,180 shares during the period. Finally, Madison Asset Management LLC boosted its stake in shares of Adidas by 11.5% during the 3rd quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock worth $2,166,000 after acquiring an additional 2,110 shares in the last quarter.

About Adidas

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.