American Outdoor Brands, Inc. (NASDAQ:AOUT) Short Interest Up 69.3% in December

American Outdoor Brands, Inc. (NASDAQ:AOUT) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 115,600 shares, an increase of 69.3% from the December 15th total of 68,300 shares. Based on an average daily trading volume, of 71,200 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On American Outdoor Brands

Several hedge funds have recently added to or reduced their stakes in AOUT. JPMorgan Chase & Co. boosted its holdings in American Outdoor Brands by 33.0% in the third quarter. JPMorgan Chase & Co. now owns 3,135 shares of the company’s stock valued at $29,000 after acquiring an additional 777 shares during the last quarter. Barclays PLC bought a new position in American Outdoor Brands in the third quarter valued at about $37,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in American Outdoor Brands in the third quarter valued at about $114,000. Sanctuary Advisors LLC bought a new position in American Outdoor Brands in the second quarter valued at about $259,000. Finally, State Street Corp boosted its holdings in American Outdoor Brands by 3.9% in the third quarter. State Street Corp now owns 45,786 shares of the company’s stock valued at $422,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 49.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised their target price on American Outdoor Brands from $11.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

American Outdoor Brands Price Performance

Shares of NASDAQ:AOUT traded up $0.37 during midday trading on Wednesday, reaching $15.15. The company’s stock had a trading volume of 3,100 shares, compared to its average volume of 80,271. The business’s fifty day simple moving average is $12.61 and its 200-day simple moving average is $10.25. The company has a market capitalization of $193.37 million, a P/E ratio of -25.68 and a beta of 0.26. American Outdoor Brands has a fifty-two week low of $7.45 and a fifty-two week high of $16.73.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.