On Holding AG [ONON] moved up 2.81: Why It’s Important

On Holding AG [NYSE: ONON] gained 2.81% or 0.46 points to close at $16.85 with a heavy trading volume of 2616761 shares. The company report on November 18, 2022 that PERFORMANCE SPORTSWEAR BRAND ON EXPANDS ITS “ONWARD” RESALE OFFERING TO APPAREL, PARTNERS WITH TROVE TO POWER ELEVATED PROGRAM.

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Performance sportswear brand On today announced the expansion of its Onward resale program to include the brand’s robust apparel collection. On fans will now be able to shop a wide assortment of pre-owned men’s and women’s performance apparel alongside its footwear offerings.

Powered by Trove, the Recommerce Operating System™, the Onward program is an extension of On’s existing ESG initiatives that focus on driving sustainability through innovation and elevating circularity across On’s product portfolio. Initially, Onward launched in September 2022 exclusively with the brand’s footwear offerings and received an overwhelming, positive response of interested consumers. The success of the initial launch has led to the expansion to apparel, including tops, pants, running tights, jackets, and other essentials.

It opened the trading session at $16.91, the shares rose to $17.895 and dropped to $16.725, the range by which the price of stock traded the whole day. The daily chart for ONON points out that the company has recorded -7.82% loss over the past six months. However, it is still -9.13% lower than its most recent low trading price.

If we look at the average trading volume of 2.20M shares, ONON reached to a volume of 2616761 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about On Holding AG [ONON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ONON shares is $26.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ONON stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for On Holding AG shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Outperform. The new note on the price target was released on September 21, 2022, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $28, while Piper Sandler analysts kept a Overweight rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 0.94, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 4.90. The Price to Book ratio for the last quarter was 5.17, with the Price to Cash per share for the same quarter was set at 1.72.

Trading performance analysis for ONON stock

On Holding AG [ONON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.50. With this latest performance, ONON shares dropped by -1.00% in over the last four-week period, additionally sinking by -7.82% over the last 6 months – not to mention a drop of -55.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONON stock in for the last two-week period is set at 42.95, with the RSI for the last a single of trading hit 40.43, and the three-weeks RSI is set at 44.80 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 17.65, while it was recorded at 16.64 for the last single week of trading, and 20.22 for the last 200 days.

On Holding AG [ONON]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and On Holding AG [ONON] shares currently have an operating margin of -19.47 and a Gross Margin at +55.43. On Holding AG’s Net Margin is presently recorded at -23.49.

Return on Equity for this stock declined to -30.82, with Return on Assets sitting at -20.65.

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 5.30.

An analysis of insider ownership at On Holding AG [ONON]

There are presently around $1,813 million, or 39.60% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: FMR LLC with ownership of 27,996,653, which is approximately -0.009% of the company’s market cap and around 37.39% of the total institutional ownership; MACQUARIE GROUP LTD, holding 9,084,032 shares of the stock with an approximate value of $153.07 million in ONON stocks shares; and DURABLE CAPITAL PARTNERS LP, currently with $140.25 million in ONON stock with ownership of nearly 18.82% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 105 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 26,282,329 shares. Additionally, 56 investors decreased positions by around 24,971,438 shares, while 32 investors held positions by with 56,320,355 shares. The mentioned changes placed institutional holdings at 107,574,122 shares, according to the latest SEC report filing. ONON stock had 51 new institutional investments in for a total of 13,393,442 shares, while 20 institutional investors sold positions of 2,778,087 shares during the same period.


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