Sonendo (NYSE:SONX) Shares Down 60% - Time to Sell?

Sonendo, Inc. (NYSE:SONX - Get Free Report) shares fell 60% during mid-day trading on Friday . The company traded as low as $2.00 and last traded at $2.00. 2,423 shares were traded during trading, a decline of 99% from the average session volume of 334,651 shares. The stock had previously closed at $5.00.

Sonendo Stock Down 60.0 %

The company has a current ratio of 2.40, a quick ratio of 1.73 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $0.05 and a 200-day moving average price of $0.07. The firm has a market cap of $167.22 million, a P/E ratio of -4.44 and a beta of 1.47.

Sonendo (NYSE:SONX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $8.31 million during the quarter, compared to the consensus estimate of $7.60 million. Sonendo had a negative return on equity of 160.87% and a negative net margin of 112.08%. On average, equities analysts forecast that Sonendo, Inc. will post -0.47 EPS for the current fiscal year.

Sonendo Company Profile

Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment, a technology platform designed for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.