adidas AG (OTCMKTS:ADDYY) Sees Significant Growth in Short Interest

adidas AG (OTCMKTS:ADDYY) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 10,900 shares, a growth of 23.9% from the February 28th total of 8,800 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 91,700 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded adidas from a “market perform” rating to an “outperform” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On adidas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Investment Advisors LLC purchased a new position in shares of adidas in the 4th quarter worth approximately $2,437,000. Mar Vista Investment Partners LLC boosted its position in adidas by 2.6% in the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company’s stock worth $3,556,000 after purchasing an additional 731 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in adidas by 13.3% in the 4th quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock valued at $109,000 after purchasing an additional 105 shares during the period.

adidas Stock Performance

OTCMKTS ADDYY opened at $120.56 on Wednesday. The company has a fifty day moving average price of $127.92 and a 200-day moving average price of $124.38. The firm has a market cap of $43.05 billion, a price-to-earnings ratio of 92.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.78. adidas has a 1 year low of $103.71 and a 1 year high of $137.73.

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.