Adidas AG (OTCMKTS:ADDYY) Short Interest Down 90.3% in July

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

Adidas Price Performance

Shares of OTCMKTS:ADDYY opened at $98.50 on Friday. Adidas has a one year low of $75.19 and a one year high of $118.00. The stock has a fifty day moving average of $98.99 and a 200-day moving average of $90.67. The company has a market capitalization of $35.20 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.71 and a current ratio of 1.35.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Adidas had a return on equity of 22.97% and a net margin of 5.52%. As a group, equities analysts anticipate that Adidas will post 5.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADDYY. JPMorgan Chase & Co. began 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 upgraded shares of Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Piper Sandler reissued an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.02.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. GAMMA Investing LLC boosted its stake in shares of Adidas AG (OTCMKTS:ADDYY) by 53.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,101 shares of the company’s stock after buying an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 at the end of the most recent reporting period.

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.