American Outdoor Brands, Inc. (NASDAQ:AOUT) Shares Shorted: Short Interest Up 96.1% in September

Key Points

• Short interest nearly doubled in September, rising 96.1% to 336,666 shares, representing 3.2% of outstanding shares and 0.5 days to cover.
• American Outdoor Brands reported quarterly EPS of $0.03, beating the $0.24-per-share loss analysts expected, while revenue of $37.25 million also exceeded estimates.
• Analyst sentiment was generally positive, with an average rating of “Moderate Buy” and a $16.50 price target, although Weiss Ratings maintained a sell rating.

American Outdoor Brands, Inc. (NASDAQ:AOUT - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 336,666 shares, a growth of 96.1% from the August 31st total of 171,717 shares. Based on an average daily volume of 622,027 shares, the days-to-cover ratio is currently 0.5 days. Currently, 3.2% of the shares of the stock are sold short.

American Outdoor Brands Price Performance

NASDAQ:AOUT opened at $17.08 on Tuesday. The company's 50-day moving average is $13.28 and its two-hundred day moving average is $11.27. American Outdoor Brands has a 1-year low of $6.26 and a 1-year high of $17.69. The firm has a market capitalization of $215.55 million, a price-to-earnings ratio of -55.10 and a beta of 0.27.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.27. American Outdoor Brands had a negative net margin of 1.97% and a positive return on equity of 2.88%. The business had revenue of $37.25 million during the quarter, compared to the consensus estimate of $35.64 million. As a group, equities analysts anticipate that American Outdoor Brands will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AOUT. Weiss Ratings restated a "sell (d-)" rating on shares of American Outdoor Brands in a report on Monday, September 21st. Roth Capital reaffirmed a "buy" rating and set a $17.00 target price (up from $13.50) on shares of American Outdoor Brands in a report on Friday, September 4th. Wall Street Zen upgraded shares of American Outdoor Brands from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 5th. Lake Street Capital reissued a "buy" rating and issued a $16.00 price target on shares of American Outdoor Brands in a research note on Friday, September 4th. Finally, Zacks Research upgraded shares of American Outdoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.50.

Institutional Investors Weigh In On American Outdoor Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brandes Investment Partners LP lifted its position in American Outdoor Brands by 6.6% in the fourth quarter. Brandes Investment Partners LP now owns 1,887,645 shares of the company's stock valued at $14,591,000 after buying an additional 116,971 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of American Outdoor Brands during the second quarter valued at about $3,270,000. Gamco Investors INC. ET AL increased its position in shares of American Outdoor Brands by 1.6% during the first quarter. Gamco Investors INC. ET AL now owns 314,813 shares of the company's stock valued at $2,940,000 after acquiring an additional 5,000 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of American Outdoor Brands by 422.9% in the 4th quarter. Corient Private Wealth LLC now owns 169,000 shares of the company's stock valued at $1,306,000 after acquiring an additional 136,680 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in shares of American Outdoor Brands in the 2nd quarter valued at approximately $1,043,000. Hedge funds and other institutional investors own 49.87% of the company's stock.

About American Outdoor Brands

American Outdoor Brands, Inc is an outdoor products company that develops, manufactures and sells equipment and accessories for shooting, hunting, fishing, camping and other outdoor activities. Its product portfolio includes shooting accessories, optics and mounts, knives and tools, game-processing equipment, hunting gear, fishing products, coolers and camping accessories.

The company markets its products under a portfolio of recognized outdoor brands, including Caldwell, Crimson Trace, BOG, Old Timer, Schrade, UST and Hooyman.

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