Nike Q1 Due After Close: Shorts Hit 87M Shares, Stock Down 44% YTD
NKE is trading near its 52-week low of $35.155 (0.5% above the low).
Summary
Nike reports fiscal Q1 after the close with consensus at ~$11.33–11.35B revenue and $0.44 EPS. Short interest has climbed to about 87M shares, just over 7% of float, up roughly 55M shares over the past year. The stock is down ~44% YTD and more than 50% over 12 months, trading at multi-year lows. Options imply a ~7.7% move to $32.91, with a 1.16 put/call ratio. Analysts have been cutting targets—BofA downgraded to $30, Evercore to $34, Deutsche Bank to $37. Greater China revenue is expected to fall ~13% to ~$1.3B, and Nike Direct is seen down ~7% with digital sales off ~12%. The company may also lose Kylian Mbappé as an endorser. This earnings print is a major test of the turnaround; the market is positioned bearishly and the implied move is large.
At the time of this announcement, NKE was trading at $35.34 on NYSE in the Trade & Services sector, with a market capitalization of approximately $52.5B. The 52-week trading range was $35.16 to $76.97. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.