On Holding AG (NYSE:ONON) Short Interest Update

On Holding AG (NYSE:ONON) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 15,977,303 shares, a decrease of 29.1% from the January 15th total of 22,519,448 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average trading volume of 4,726,514 shares, the short-interest ratio is currently 3.4 days. Based on an average trading volume of 4,726,514 shares, the short-interest ratio is currently 3.4 days. Approximately 2.5% of the company’s stock are short sold.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of ONON. Jacobi Capital Management LLC increased its holdings in ON by 3.6% in the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after acquiring an additional 240 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in ON by 1.0% during the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after purchasing an additional 243 shares during the period. Lido Advisors LLC increased its stake in shares of ON by 1.2% in the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after purchasing an additional 285 shares in the last quarter. Parallel Advisors LLC raised its position in shares of ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after purchasing an additional 285 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of ON by 2.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after buying an additional 285 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONON. Raymond James Financial lowered their price objective on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. Jefferies Financial Group reissued an “underperform” rating and set a $31.00 target price on shares of ON in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Zacks Research raised ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of ON in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average target price of $59.86.

ON Stock Performance

Shares of ON stock traded up $1.00 during trading hours on Monday, hitting $45.27. 3,154,954 shares of the company’s stock traded hands, compared to its average volume of 4,574,826. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 58.82, a PEG ratio of 1.36 and a beta of 2.15. ON has a 12-month low of $34.38 and a 12-month high of $61.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The company has a fifty day simple moving average of $46.59 and a 200-day simple moving average of $44.39.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.