Sonos, Inc. (NASDAQ:SONO - Get Free Report) shares traded down 7.6% on Monday . The stock traded as low as $13.40 and last traded at $13.41. 289,139 shares were traded during trading, a decline of 74% from the average session volume of 1,127,430 shares. The stock had previously closed at $14.52.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley cut Sonos from an "overweight" rating to an "underweight" rating and dropped their price target for the company from $25.00 to $11.00 in a research report on Thursday, September 26th.
Check Out Our Latest Research Report on Sonos
Sonos Stock Performance
The stock has a market capitalization of $1.73 billion, a PE ratio of -43.12 and a beta of 1.99. The business's 50-day moving average is $14.25 and its two-hundred day moving average is $13.21.
Sonos (NASDAQ:SONO - Get Free Report) last released its earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The firm had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. During the same quarter last year, the business posted ($0.21) EPS. The firm's revenue was down 16.3% on a year-over-year basis. Equities analysts forecast that Sonos, Inc. will post -0.3 EPS for the current year.
Institutional Investors Weigh In On Sonos
Institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in shares of Sonos in the 3rd quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sonos in the second quarter worth $46,000. GAMMA Investing LLC raised its position in Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after acquiring an additional 1,352 shares in the last quarter. Quest Partners LLC lifted its holdings in Sonos by 138.8% in the second quarter. Quest Partners LLC now owns 4,850 shares of the company's stock valued at $72,000 after acquiring an additional 2,819 shares during the period. Finally, KBC Group NV boosted its position in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company's stock worth $60,000 after purchasing an additional 1,670 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.
About Sonos
(
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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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