On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 12,640,000 shares, a drop of 13.7% from the February 28th total of 14,640,000 shares. Based on an average daily trading volume, of 4,030,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of ON in a research note on Tuesday. They issued a “hold” rating and a $44.00 price target for the company. Barclays lifted their price target on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. UBS Group upped their price objective on ON from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group downgraded ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Finally, Citigroup began coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.45.

ON Trading Up 4.1 %

NYSE ONON traded up $1.77 during trading on Wednesday, hitting $44.47. 1,435,232 shares of the company’s stock were exchanged, compared to its average volume of 4,377,564. The stock’s 50 day moving average price is $51.85 and its two-hundred day moving average price is $52.68. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The company has a market cap of $28.00 billion, a PE ratio of 103.41, a P/E/G ratio of 1.02 and a beta of 2.35.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB acquired a new position in shares of ON during the first quarter worth $32,000. Wealth Enhancement Advisory Services LLC increased its holdings in ON by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company’s stock worth $1,025,000 after purchasing an additional 705 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new position in ON in the fourth quarter valued at about $1,556,000. Park Square Financial Group LLC acquired a new stake in shares of ON during the fourth quarter valued at about $32,000. Finally, Azzad Asset Management Inc. ADV grew its holdings in shares of ON by 0.4% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock worth $8,018,000 after purchasing an additional 608 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.