Amer Sports Inc (NYSE:AS) shares, rose in value on Friday, November 22, without any change to the previous day’s close as strong demand from buyers drove the stock to $23.69.
Actively observing the price movement in the recent trading, the stock is buoying the session at $23.69, falling within a range of $23.52 and $24.6. Referring to stock’s 52-week performance, its high was $23.99, and the low was $10.11. On the whole, AS has fluctuated by 32.42% over the past month.
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With the market capitalization of Amer Sports Inc currently standing at about $11.97 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.12B, with a low estimate of 1.54B and a high estimate of 1.63B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.59B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that AS’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of AS currently trading nearly 20.94% and 30.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 76.50, while the 7-day volatility ratio is showing 8.08% which for the 30-day chart, stands at 5.10%. Furthermore, Amer Sports Inc (AS)’s average true range (ATR) is 1.10.
Data on historical trading for Amer Sports Inc (NYSE:AS) indicates that the trading volumes over the past 10 days have averaged 3.09 and over the past 3 months, they’ve averaged 2.05 million. According to company’s latest data on outstanding shares, there are 505.25 million shares outstanding.
Nearly 86.97% of Amer Sports Inc’s shares belong to company insiders and institutional investors own 9.62% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.46 million shares as on 2024-10-31, resulting in a short ratio of 2.84. According to the data, the short interest in Amer Sports Inc (AS) stood at 721.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 6.19 million. The stock has risen by 76.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AS stock heading into the next quarter.
