adidas (OTCMKTS:ADDYY) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

adidas AG (OTCMKTS:ADDYY)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $119.69 and traded as low as $119.28. adidas shares last traded at $122.98, with a volume of 19,592 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADDYY. HSBC lowered adidas from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Barclays reissued an “equal weight” rating on shares of adidas in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, adidas has a consensus rating of “Moderate Buy”.

adidas Price Performance

The stock has a market capitalization of $43.92 billion, a P/E ratio of 94.60 and a beta of 1.20. The stock’s 50-day simple moving average is $119.69 and its 200 day simple moving average is $121.77.

adidas (OTCMKTS:ADDYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.09 by $0.25. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.01 billion. adidas had a net margin of 1.91% and a return on equity of 7.93%. As a group, analysts expect that adidas AG will post 2.15 earnings per share for the current fiscal year.

Institutional Trading of adidas

Several hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in adidas during the 2nd quarter worth $4,809,000. Capital Square LLC bought a new position in adidas during the second quarter worth about $1,616,000. Finally, GAMMA Investing LLC increased its position in adidas by 29.4% during the third quarter. GAMMA Investing LLC now owns 792 shares of the company’s stock worth $105,000 after acquiring an additional 180 shares during the period.

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.