Short Interest in American Outdoor Brands, Inc. (NASDAQ:AOUT) Declines By 65.8%

Key Points

• Short interest in American Outdoor Brands plunged 65.8% in June, falling to 190,251 shares as of June 30 from 555,524 shares two weeks earlier. That amounts to just 1.6% of shares short and a short-interest ratio of 0.7 days.
• The company beat earnings expectations in its latest quarterly report, posting EPS of $0.13 versus analyst estimates for a loss of $0.01. Revenue came in at $47.06 million, slightly below consensus.
• Analyst sentiment is mixed but mostly positive, with recent upgrades from Wall Street Zen and Zacks and buy ratings from Roth Capital and Lake Street Capital. The stock’s average analyst rating is “Moderate Buy,” with an average price target of $14.25.

American Outdoor Brands, Inc. (NASDAQ:AOUT - Get Free Report) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 190,251 shares, a drop of 65.8% from the June 15th total of 555,524 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 269,922 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On American Outdoor Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in American Outdoor Brands by 3.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,852 shares of the company's stock valued at $406,000 after buying an additional 1,296 shares during the period. Bank of America Corp DE lifted its holdings in shares of American Outdoor Brands by 15.0% during the 1st quarter. Bank of America Corp DE now owns 10,989 shares of the company's stock worth $103,000 after acquiring an additional 1,436 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of American Outdoor Brands by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 33,530 shares of the company's stock worth $313,000 after acquiring an additional 1,641 shares during the period. Barclays PLC boosted its position in shares of American Outdoor Brands by 11.0% during the 4th quarter. Barclays PLC now owns 19,271 shares of the company's stock worth $149,000 after acquiring an additional 1,902 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of American Outdoor Brands by 8.4% during the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the company's stock worth $309,000 after acquiring an additional 1,972 shares in the last quarter. Institutional investors own 49.87% of the company's stock.

American Outdoor Brands Price Performance

American Outdoor Brands stock opened at $14.34 on Monday. The firm has a market cap of $179.35 million, a PE ratio of -19.64 and a beta of 0.27. The stock's fifty day moving average price is $10.52 and its two-hundred day moving average price is $9.47. American Outdoor Brands has a one year low of $6.26 and a one year high of $14.80.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.14. The firm had revenue of $47.06 million during the quarter, compared to the consensus estimate of $48.44 million. American Outdoor Brands had a positive return on equity of 0.67% and a negative net margin of 4.83%. Sell-side analysts expect that American Outdoor Brands will post 0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AOUT shares. Roth Capital restated a "buy" rating and issued a $13.50 price target on shares of American Outdoor Brands in a research note on Friday, June 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Outdoor Brands in a report on Wednesday, June 24th. Wall Street Zen upgraded American Outdoor Brands from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Zacks Research raised American Outdoor Brands from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Finally, Lake Street Capital boosted their target price on shares of American Outdoor Brands from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $14.25.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc designs, manufactures and distributes a broad range of outdoor sports and recreational products for consumers and commercial end users. Through its Shooting & Accessories and Functional Outdoor Approaches segments, the company offers shooting sports equipment, hunting and fishing accessories, archery gear, tactical and personal defense solutions, outdoor apparel, fitness products and knife and tool categories. Its portfolio encompasses well-known brands such as Wheeler®, Tipton®, Caldwell®, Hogue®, Manticore Arms® and other specialty labels.

Formed as a standalone public company in 2016 following a spin-off from Smith & Wesson, American Outdoor Brands has its headquarters in Columbia, Missouri, with manufacturing, distribution and sales operations across North America.

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