On Holding AG [ONON] Is Currently 2.24 below its 200 Period Moving Avg: What Does This Mean?

On Holding AG [NYSE: ONON] traded at a high on 04/26/23, posting a 2.24 gain after which it closed the day’ session at $32.88. The company report on March 21, 2023 at 6:00 AM that On Announces Fourth Quarter and Full Year Results, and The Filing of Its Annual Report on Form 20-F for 2022.

On achieves strong full-year results in 2022, reaching net sales of CHF 1,222.1 million, surpassing the CHF 1 billion mark for the first time in history and growing by 68.7% year-over-year. The company reports a gross profit margin of 56.0%, net income of CHF 57.7 million, a net income margin of 4.7%, and an adjusted EBITDA margin of 13.5%, showcasing On’s commitment to managing the company for long-term, sustainable growth and profitability.

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On reports fourth quarter net sales of CHF 366.8 million, growing by 91.9% year-over-year, driven by an exceptional underlying full-price demand throughout the holiday season across regions and channels.

The results of the trading session contributed to over 4289319 shares changing hands. Over the past one week, the price volatility of On Holding AG stands at 5.18% while the volatility over the past one month is 4.84%.

The market cap for ONON stock reached $8.88 billion, with 317.65 million shares outstanding and 141.69 million shares in the current float. Compared to the average trading volume of 4.16M shares, ONON reached a trading volume of 4289319 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $32.54 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.

Robert W. Baird have made an estimate for On Holding AG shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 05, 2023. While these analysts kept the previous recommendation, Wedbush raised their target price from $20 to $25. The new note on the price target was released on March 16, 2023, representing the official price target for On Holding AG stock. Previously, the target price had yet another drop from $37 to $28, while Goldman kept a Buy rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 1.59, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 6.48. The Price to Book ratio for the last quarter was 9.61, with the Price to Cash per share for the same quarter was set at 1.68.

How has ONON stock performed recently?

On Holding AG [ONON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.35. With this latest performance, ONON shares gained by 8.73% in over the last four-week period, additionally plugging by 95.71% over the last 6 months – not to mention a rise of 25.45% 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 63.71, with the RSI for the last a single of trading hit 62.97, and the three-weeks RSI is set at 63.92 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 26.41, while it was recorded at 32.77 for the last single week of trading, and 21.02 for the last 200 days.

On Holding AG [ONON]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and On Holding AG [ONON] shares currently have an operating margin of +6.96 and a Gross Margin at +52.77. On Holding AG’s Net Margin is presently recorded at +4.72.

Return on Equity for this stock inclined to 6.11, with Return on Assets sitting at 4.20.

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 4.30.

Insider trade positions for On Holding AG [ONON]

There are presently around $3,663 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 28,176,424, which is approximately 0.642% of the company’s market cap and around 33.16% of the total institutional ownership; MACQUARIE GROUP LTD, holding 9,146,631 shares of the stock with an approximate value of $300.74 million in ONON stocks shares; and DURABLE CAPITAL PARTNERS LP, currently with $227.75 million in ONON stock with ownership of nearly -16.78% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 112 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 14,093,390 shares. Additionally, 78 investors decreased positions by around 10,342,852 shares, while 37 investors held positions by with 86,972,175 shares. The mentioned changes placed institutional holdings at 111,408,417 shares, according to the latest SEC report filing. ONON stock had 54 new institutional investments in for a total of 3,044,410 shares, while 33 institutional investors sold positions of 2,573,185 shares during the same period.


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