Adidas AG (OTCMKTS:ADDYY) Short Interest Update

Key Points

• Short interest in Adidas fell sharply in July, dropping 90.3% to 7,629 shares as of July 15 from 78,600 shares on June 30. That left only about 0.0% of the company’s stock sold short.
• Analyst sentiment remains mostly positive, with eight Buy ratings, two Hold ratings, and one Sell rating. The stock currently carries a consensus rating of “Moderate Buy” and an average target price of $146.02.
• Adidas recently beat quarterly expectations, reporting EPS of $1.58 versus the $1.53 estimate and revenue of $7.71 billion versus $7.36 billion expected. The company’s shares were trading around $98.50, below the average analyst target but above the 200-day moving average.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 7,629 shares, a decrease of 90.3% from the June 30th total of 78,600 shares. Based on an average daily trading volume, of 157,520 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company's stock are sold short.

Institutional Investors Weigh In On Adidas

A hedge fund recently raised its stake in Adidas stock. GAMMA Investing LLC boosted its stake in Adidas AG (OTCMKTS:ADDYY - Free Report) by 53.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,101 shares of the company's stock after acquiring an additional 732 shares during the period. GAMMA Investing LLC's holdings in Adidas were worth $216,000 as of its most recent SEC filing.

Analyst Ratings Changes

ADDYY has been the topic of a number of recent analyst reports. Zacks Research raised shares of Adidas from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. assumed coverage on shares of Adidas in a research note on Thursday, July 2nd. They issued an "overweight" rating for the company. Royal Bank Of Canada raised Adidas from a "sector perform" rating to an "outperform" rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, Piper Sandler reissued an "overweight" rating on shares of Adidas in a report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $146.02.

Adidas Stock Performance

Shares of ADDYY traded up $1.51 during mid-day trading on Friday, reaching $98.50. 138,718 shares of the company's stock were exchanged, compared to its average volume of 95,121. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 0.71. The stock has a market capitalization of $35.20 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. The business's fifty day simple moving average is $98.71 and its 200-day simple moving average is $90.61. Adidas has a 52-week low of $75.19 and a 52-week high of $118.00.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 22.97%. On average, equities research analysts expect that Adidas will post 5.48 earnings per share for the current year.

Adidas Company Profile

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.

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