ON Sees Unusually Large Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the target of unusually large options trading on Tuesday. Stock traders bought 19,517 call options on the stock. This is an increase of approximately 59% compared to the average daily volume of 12,264 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONON shares. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler raised their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Needham & Company LLC assumed coverage on ON in a report on Friday, November 22nd. They issued a “buy” rating and a $64.00 target price on the stock. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group raised their price objective on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

ON Trading Down 1.6 %

Shares of ONON traded down $0.87 during trading hours on Tuesday, reaching $54.51. 2,465,743 shares of the company’s stock traded hands, compared to its average volume of 2,737,925. The firm’s 50 day simple moving average is $55.48 and its 200-day simple moving average is $48.39. The stock has a market cap of $34.32 billion, a PE ratio of 126.77 and a beta of 2.30. ON has a 12 month low of $26.03 and a 12 month high of $60.12.

Hedge Funds Weigh In On ON

Institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its stake in ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock valued at $877,000 after acquiring an additional 2,565 shares during the last quarter. Tsfg LLC increased its position in shares of ON by 143.6% during the 4th quarter. Tsfg LLC now owns 3,338 shares of the company’s stock valued at $183,000 after purchasing an additional 1,968 shares during the last quarter. Watts Gwilliam & Co. LLC raised its holdings in shares of ON by 3.7% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company’s stock valued at $3,584,000 after buying an additional 2,330 shares in the last quarter. Diversified Trust Co bought a new stake in ON in the 4th quarter worth approximately $995,000. Finally, Central Pacific Bank Trust Division boosted its stake in ON by 12.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock worth $566,000 after buying an additional 1,161 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

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.