ONON Rises 2.62% on $0.23 Billion Volume Ranking 439th as Institutional Moves and Analysts Clash Over Valuation

, 2025, , ranking 439th in the market. Recent institutional activity highlights a mixed landscape, with firms like Axiom Investors LLC and Jump Financial LLC increasing stakes in the stock, while others, including Wellington Management Group and Lord Abbett & CO., reduced holdings. Analyst sentiment remains divided, with reiterating a Buy rating and a $70 price target, while Jefferies downgraded the stock to Sell. , driven by strong sales momentum and strategic price adjustments, which led to an upgraded outlook despite a quarterly net loss.

, reflecting confidence in On’s growth potential despite earnings shortfalls. Meanwhile, concerns linger over macroeconomic challenges, with some analysts cautioning about valuation levels relative to growth. Institutional purchases, , underscore ongoing strategic interest. However, reduced holdings by T. Rowe Price and Neuberger Berman highlight caution amid market volatility.

To run this back-test rigorously I need to lock down a few practical details that aren’t fully specified yet. Unless you’d like something different, I can choose sensible defaults and move ahead automatically—but please let me know if any of these assumptions should change. 1. Universe • Default: all common stocks and ADRs listed on NYSE, NASDAQ and AMEX that have been actively traded since 2022. • Alternative: a specific universe such as the Russell 3000, S&P 1500, etc. 2. Volume definition for the daily ranking • Default: share-count volume (not notional dollar volume) recorded at the official close. 3. Trade timing & pricing • Default: – Select the day’s top-500 by volume using the closing print. – Buy them at that same close (assumes end-of-day execution is possible). – Hold one trading day. – Sell at the next day’s close. • If you prefer open-to-open, open-to-close, VWAP, or intraday fills, let me know. 4. Portfolio weighting • Default: equal-weighted across the 500 names each day. • Value-weighted or volume-weighted are also options. 5. Transaction costs / slippage • Default: ignore these unless you specify otherwise. 6. Benchmark (for excess-return / alpha stats) • Default: SPY (S&P 500 ETF). Because the strategy re-selects 500 names every single day, we’ll be building a daily-rebalanced, multi-asset portfolio. Our back-test engine can handle this as long as we spell out the selection rules; no ticker-by-ticker interaction is needed from your side. Please confirm (or amend) the above so I can proceed to fetch the required daily prices & volumes, build the daily baskets, and run the full performance analysis from 2022-01-03 (first trading day of 2022) through today.