Short Interest in adidas AG (OTCMKTS:ADDYY) Drops By 45.1%

adidas AG (OTCMKTS:ADDYY) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 5,000 shares, a drop of 45.1% from the January 15th total of 9,100 shares. Based on an average daily trading volume, of 79,900 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On adidas

A hedge fund recently raised its stake in adidas stock. GAMMA Investing LLC increased its position in shares of adidas AG (OTCMKTS:ADDYY) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 897 shares of the company’s stock after purchasing an additional 105 shares during the quarter. GAMMA Investing LLC’s holdings in adidas were worth $109,000 as of its most recent filing with the SEC.

Analyst Ratings Changes

Several analysts have recently commented on the company. HSBC cut adidas from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised adidas from a “market perform” rating to an “outperform” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

adidas Stock Performance

Shares of ADDYY stock opened at $136.82 on Friday. The stock has a fifty day moving average price of $127.09 and a 200 day moving average price of $123.44. The stock has a market cap of $48.86 billion, a PE ratio of 105.25 and a beta of 1.19. adidas has a 1 year low of $92.78 and a 1 year high of $137.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.32.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.