Short Interest in Adidas AG (OTCMKTS:ADDYY) Increases By 126.4%

Key Points

• Adidas AG experienced a significant increase in short interest, rising by 126.4% in July, totaling 32,600 shares by the end of the month.
• Bank of America has upgraded Adidas from a "neutral" to a "buy" rating, with multiple analysts giving the company an average rating of "Buy."
• The company reported a quarterly profit of $1.15 EPS, exceeding the analyst estimate of $1.13, along with revenue of $6.86 billion for the quarter.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 32,600 shares, anincreaseof126.4% from the July 15th total of 14,400 shares. Approximately0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 276,600 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 276,600 shares, the days-to-cover ratio is currently 0.1 days. Approximately0.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Adidas by 13,801.2% during the first quarter. GAMMA Investing LLC now owns 124,694 shares of the company's stock worth $14,710,000 after buying an additional 123,797 shares during the period. Mar Vista Investment Partners LLC raised its stake 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 valued at $3,550,000 after acquiring an additional 1,180 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after acquiring an additional 709 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock valued at $607,000 after acquiring an additional 450 shares in the last quarter.

Adidas Trading Up 2.6%

Adidas stock traded up $2.5350 during mid-day trading on Friday, hitting $100.3150. The company's stock had a trading volume of 70,743 shares, compared to its average volume of 65,361. The firm has a market capitalization of $35.82 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. Adidas has a 1 year low of $94.3301 and a 1 year high of $137.7299. The company has a current ratio of 1.29, a quick ratio of 0.72 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average is $111.00 and its two-hundred day moving average is $118.09.

Adidas (OTCMKTS:ADDYY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.30 billion. Adidas had a return on equity of 20.68% and a net margin of 4.93%. On average, analysts anticipate that Adidas will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADDYY. DZ Bank raised Adidas from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Piper Sandler began coverage on Adidas in a report on Monday, May 5th. They issued an "overweight" rating for the company. Finally, Bank of America raised Adidas from a "neutral" rating to a "buy" rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy".

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.