Short Interest in American Outdoor Brands, Inc. (NASDAQ:AOUT) Declines By 65.8%

American Outdoor Brands, Inc. (NASDAQ:AOUT) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 190,251 shares, a drop of 65.8% from the June 15th total of 555,524 shares. Based on an average daily volume of 269,922 shares, the short-interest ratio is presently 0.7 days. Approximately 1.6% of the shares of the stock are sold short.

American Outdoor Brands Stock Performance

Shares of NASDAQ:AOUT opened at $14.34 on Monday. American Outdoor Brands has a 52-week low of $6.26 and a 52-week high of $14.80. The company has a market capitalization of $179.35 million, a PE ratio of -19.64 and a beta of 0.27. The company has a fifty day moving average of $10.52 and a 200-day moving average of $9.47.

American Outdoor Brands (NASDAQ:AOUT) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.14. The company had revenue of $47.06 million for the quarter, compared to the consensus estimate of $48.44 million. American Outdoor Brands had a positive return on equity of 0.67% and a negative net margin of 4.83%. On average, equities analysts forecast that American Outdoor Brands will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AOUT has been the subject of a number of research analyst reports. Zacks Research raised American Outdoor Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Roth Capital reaffirmed a “buy” rating and issued a $13.50 price objective on shares of American Outdoor Brands in a research note on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Outdoor Brands in a research report on Wednesday, June 24th. Wall Street Zen raised American Outdoor Brands from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Lake Street Capital raised their price target on shares of American Outdoor Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Hedge Funds Weigh In On American Outdoor Brands

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in shares of American Outdoor Brands during the first quarter valued at about $30,000. Comerica Bank increased its stake in shares of American Outdoor Brands by 203.6% in the third quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after buying an additional 2,350 shares during the period. Bank of America Corp DE raised its holdings in American Outdoor Brands by 505.6% in the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock valued at $56,000 after buying an additional 4,485 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in American Outdoor Brands by 4,535.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock valued at $62,000 after buying an additional 5,806 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in American Outdoor Brands during the 2nd quarter worth approximately $64,000. 49.87% of the stock is currently owned by institutional investors.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc designs, manufactures and distributes a broad range of outdoor sports and recreational products for consumers and commercial end users. Through its Shooting & Accessories and Functional Outdoor Approaches segments, the company offers shooting sports equipment, hunting and fishing accessories, archery gear, tactical and personal defense solutions, outdoor apparel, fitness products and knife and tool categories. Its portfolio encompasses well-known brands such as Wheeler®, Tipton®, Caldwell®, Hogue®, Manticore Arms® and other specialty labels.

Formed as a standalone public company in 2016 following a spin-off from Smith & Wesson, American Outdoor Brands has its headquarters in Columbia, Missouri, with manufacturing, distribution and sales operations across North America.