On Holding AG (NYSE:ONON) Short Interest Down 24.0% in April

On Holding AG (NYSE:ONON) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 11,141,358 shares, a decline of 24.0% from the March 31st total of 14,651,199 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average trading volume of 7,438,638 shares, the short-interest ratio is presently 1.5 days.

ON Price Performance

ONON traded down $0.22 during midday trading on Wednesday, reaching $35.21. 1,647,753 shares of the company’s stock were exchanged, compared to its average volume of 6,015,805. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The stock has a market capitalization of $22.47 billion, a PE ratio of 48.92, a P/E/G ratio of 0.73 and a beta of 2.23. The business’s 50-day moving average price is $38.72 and its 200 day moving average price is $42.32. ON has a 1-year low of $31.41 and a 1-year high of $61.29.

Insider Buying and Selling at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,750 shares of company stock valued at $745,838 over the last quarter.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. Cullen Frost Bankers Inc. raised its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the last quarter. Caitlin John LLC acquired a new position in ON during the fourth quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new position in ON during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its position in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new position in ON during the first quarter worth about $34,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ONON. BTIG Research reiterated a “buy” rating and issued a $70.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Telsey Advisory Group reduced their price objective on shares of ON from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Stifel Nicolaus set a $58.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Barclays reduced their price objective on shares of ON from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, KeyCorp reiterated an “overweight” rating on shares of ON in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.40.

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.