adidas (OTCMKTS:ADDYY) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of adidas AG (OTCMKTS:ADDYY) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $128.98 and traded as low as $120.95. adidas shares last traded at $122.14, with a volume of 36,081 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded shares of adidas from a “market perform” rating to an “outperform” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

adidas Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.32. The firm has a market capitalization of $44.08 billion, a P/E ratio of 94.95 and a beta of 1.18. The stock’s 50 day simple moving average is $128.92 and its 200 day simple moving average is $124.51.

Institutional Investors Weigh In On adidas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Madison Investment Advisors LLC acquired a new stake in adidas during the fourth quarter valued at $2,437,000. Mar Vista Investment Partners LLC grew its holdings in shares of adidas by 2.6% in the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company’s stock valued at $3,556,000 after purchasing an additional 731 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in adidas by 13.3% during the 4th quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock worth $109,000 after acquiring an additional 105 shares in the last quarter.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.