adidas AG (OTCMKTS:ADDYY) Short Interest Up 23.9% in March

adidas AG (OTCMKTS:ADDYY) was the target of 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. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 91,700 shares, the days-to-cover ratio is presently 0.1 days.

adidas Price Performance

Shares of adidas stock opened at $117.71 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.78. The company has a market cap of $42.03 billion, a PE ratio of 90.55 and a beta of 1.18. The firm has a fifty day moving average price of $128.16 and a two-hundred day moving average price of $124.38. adidas has a fifty-two week low of $103.71 and a fifty-two week high of $137.73.

Institutional Investors Weigh In On adidas

Several hedge funds have recently made changes to their positions in ADDYY. Mar Vista Investment Partners LLC raised its holdings in adidas by 2.6% in the 4th quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company’s stock valued at $3,556,000 after acquiring an additional 731 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of adidas during the 4th quarter worth approximately $2,437,000. Finally, GAMMA Investing LLC increased its position in shares of adidas by 13.3% during the fourth 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.

Analyst Upgrades and Downgrades

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

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.