American Outdoor Brands, Inc. (NASDAQ:AOUT) Sees Large Increase in Short Interest

American Outdoor Brands, Inc. (NASDAQ:AOUT) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 879,383 shares, an increase of 29.6% from the February 26th total of 678,375 shares. Based on an average daily volume of 48,894 shares, the short-interest ratio is presently 18.0 days. Currently, 7.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Lake Street Capital cut their price target on shares of American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday, December 29th. Roth Mkm dropped their target price on American Outdoor Brands from $11.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Finally, Wall Street Zen raised American Outdoor Brands from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Institutional Trading of American Outdoor Brands

A number of hedge funds have recently bought and sold shares of the stock. Brandes Investment Partners LP boosted its position in American Outdoor Brands by 6.6% during the 4th quarter. Brandes Investment Partners LP now owns 1,887,645 shares of the company’s stock valued at $14,591,000 after acquiring an additional 116,971 shares in the last quarter. Royce & Associates LP raised its position in shares of American Outdoor Brands by 16.0% in the 3rd quarter. Royce & Associates LP now owns 859,233 shares of the company’s stock worth $7,458,000 after acquiring an additional 118,604 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of American Outdoor Brands by 7.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 309,813 shares of the company’s stock worth $2,395,000 after acquiring an additional 21,100 shares in the last quarter. Geode Capital Management LLC boosted its position in American Outdoor Brands by 104.7% during the second quarter. Geode Capital Management LLC now owns 293,683 shares of the company’s stock valued at $3,070,000 after purchasing an additional 150,202 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in American Outdoor Brands by 422.9% during the fourth quarter. Corient Private Wealth LLC now owns 169,000 shares of the company’s stock valued at $1,306,000 after purchasing an additional 136,680 shares in the last quarter. Hedge funds and other institutional investors own 49.87% of the company’s stock.

American Outdoor Brands Stock Performance

Shares of AOUT opened at $9.10 on Monday. The company has a 50 day moving average price of $8.83 and a 200-day moving average price of $8.16. American Outdoor Brands has a fifty-two week low of $6.26 and a fifty-two week high of $13.46. The stock has a market capitalization of $114.66 million, a PE ratio of -11.67 and a beta of 0.40.

About American Outdoor Brands

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.