Adidas AG (OTCMKTS:ADDYY) Shares Shorted: Short Interest Up 88.2% in September

Key Points

• Adidas short interest surged 88.2% in September to 142,767 shares, though short positions represented 0.0% of shares outstanding and the days-to-cover ratio remained low at 0.9 days.
• ADDYY opened at $86.04, near its 50-day moving average and below its 200-day average of $90.34. In its latest quarter, Adidas reported $1.22 in EPS—below estimates—but revenue of $7.76 billion exceeded expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $146, despite UBS downgrading the stock to “neutral.”

Adidas AG (OTCMKTS:ADDYY - Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 142,767 shares, an increase of 88.2% from the September 15th total of 75,865 shares. Based on an average daily volume of 166,976 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.0% of the shares of the company are sold short.

Adidas Price Performance

OTCMKTS ADDYY opened at $86.04 on Thursday. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00. The firm has a market capitalization of $30.74 billion, a PE ratio of 18.88, a P/E/G ratio of 1.26 and a beta of 1.24. The company's 50 day simple moving average is $86.04 and its 200 day simple moving average is $90.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.16). The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.55 billion. Adidas had a return on equity of 22.35% and a net margin of 5.30%. As a group, equities research analysts forecast that Adidas will post 5.08 EPS for the current fiscal year.

Institutional Trading of Adidas

An institutional investor recently raised its stake in Adidas stock. GAMMA Investing LLC increased its position in Adidas AG (OTCMKTS:ADDYY - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,249 shares of the company's stock after buying an additional 148 shares during the quarter. GAMMA Investing LLC's holdings in Adidas were worth $185,000 at the end of the most recent reporting period.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADDYY. UBS Group cut shares of Adidas from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 4th. Barclays raised shares of Adidas from an "equal weight" rating to an "overweight" rating in a report on Tuesday, September 1st. Sanford C. Bernstein reiterated an "outperform" rating and issued a $146.00 target price on shares of Adidas in a research report on Friday, October 2nd. Citigroup upgraded shares of Adidas from a "buy" rating to an "overweight" rating in a research report on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Adidas in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $146.00.

Adidas Company Profile

adidas AG is a Germany-based global sporting goods company headquartered in Herzogenaurach, Bavaria. Founded by Adolf “Adi” Dassler in 1949, the company develops, designs and markets athletic footwear, apparel and sports accessories under the adidas brand.

Its products serve a broad range of sports and activities, including football, running, basketball, training, tennis and outdoor pursuits. adidas also offers lifestyle footwear and clothing that combine sports-inspired designs with everyday fashion.

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