Sonos, Inc. (NASDAQ:SONO - Get Free Report) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 7,670,000 shares, an increase of 31.1% from the January 15th total of 5,850,000 shares. Approximately 6.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 3.7 days.
Institutional Trading of Sonos
Institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new stake in Sonos in the 3rd quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Sonos in the fourth quarter valued at about $30,000. Mountain Hill Investment Partners Corp. bought a new stake in Sonos during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC raised its holdings in Sonos by 191.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after acquiring an additional 1,721 shares in the last quarter. Finally, KBC Group NV boosted its position in Sonos by 52.5% during the third quarter. KBC Group NV now owns 4,852 shares of the company's stock valued at $60,000 after purchasing an additional 1,670 shares during the last quarter. Institutional investors own 85.82% of the company's stock.
Analyst Ratings Changes
Separately, Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price target on shares of Sonos in a report on Friday, February 7th.
View Our Latest Research Report on SONO
Sonos Stock Down 1.8 %
SONO traded down $0.25 during trading on Tuesday, hitting $13.09. The company had a trading volume of 459,121 shares, compared to its average volume of 2,093,582. The company has a market capitalization of $1.58 billion, a PE ratio of -22.86 and a beta of 1.97. Sonos has a one year low of $10.23 and a one year high of $19.76. The firm's 50-day moving average price is $14.31 and its 200 day moving average price is $13.18.
Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 13.22% and a negative net margin of 4.73%. Sell-side analysts forecast that Sonos will post -0.3 earnings per share for the current year.
About Sonos
(
Get Free Report)
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.
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