Short Interest in American Outdoor Brands, Inc. (NASDAQ:AOUT) Drops By 14.7%

American Outdoor Brands, Inc. (NASDAQ:AOUT) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 86,600 shares, a decline of 14.7% from the February 28th total of 101,500 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 69,200 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On American Outdoor Brands

Several hedge funds have recently bought and sold shares of AOUT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of American Outdoor Brands during the fourth quarter valued at $77,000. Occudo Quantitative Strategies LP bought a new stake in shares of American Outdoor Brands during the fourth quarter valued at approximately $168,000. Millennium Management LLC purchased a new stake in shares of American Outdoor Brands in the fourth quarter valued at approximately $673,000. Cubist Systematic Strategies LLC purchased a new stake in shares of American Outdoor Brands in the fourth quarter valued at approximately $158,000. Finally, Bridgeway Capital Management LLC grew its stake in American Outdoor Brands by 0.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 116,334 shares of the company’s stock worth $1,773,000 after purchasing an additional 979 shares in the last quarter. Institutional investors own 49.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their target price on shares of American Outdoor Brands from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 27th.

American Outdoor Brands Price Performance

Shares of NASDAQ:AOUT opened at $12.09 on Wednesday. The business has a 50 day simple moving average of $15.23 and a two-hundred day simple moving average of $12.75. American Outdoor Brands has a 1 year low of $7.45 and a 1 year high of $17.91. The firm has a market capitalization of $153.97 million, a PE ratio of -20.49 and a beta of 0.29.

About American Outdoor Brands

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.