Traders Buy High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading activity on Friday. Stock traders bought 23,091 call options on the stock. This is an increase of approximately 81% compared to the average daily volume of 12,726 call options.

ON Price Performance

Shares of NYSE:ONON traded up $0.48 on Friday, hitting $46.04. 2,971,870 shares of the company’s stock were exchanged, compared to its average volume of 4,332,765. ON has a 12 month low of $29.84 and a 12 month high of $64.05. The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 107.21, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The business’s 50 day simple moving average is $53.26 and its two-hundred day simple moving average is $52.57.

Institutional Trading of ON

Several institutional investors and hedge funds have recently made changes to their positions in ONON. Wealth Enhancement Advisory Services LLC raised its holdings in shares of ON by 3.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company’s stock valued at $1,025,000 after acquiring an additional 705 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in shares of ON in the fourth quarter valued at about $1,556,000. Park Square Financial Group LLC bought a new stake in shares of ON in the fourth quarter valued at about $32,000. Azzad Asset Management Inc. ADV raised its holdings in shares of ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock valued at $8,018,000 after acquiring an additional 608 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in shares of ON in the fourth quarter valued at about $44,000. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ONON has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp restated an “overweight” rating and issued a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a research note on Tuesday, March 4th. The Goldman Sachs Group downgraded ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Wednesday, February 12th. Finally, Citigroup assumed coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $61.90.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.