Sonos, Inc. (NASDAQ:SONO - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.20 and traded as high as $14.46. Sonos shares last traded at $14.36, with a volume of 2,906,470 shares changing hands.
Wall Street Analyst Weigh In
Separately, Morgan Stanley cut Sonos from an "overweight" rating to an "underweight" rating and lowered their price target for the company from $25.00 to $11.00 in a research note on Thursday, September 26th.
Get Our Latest Stock Analysis on SONO
Sonos Trading Down 1.6 %
The company has a 50-day moving average price of $14.27 and a two-hundred day moving average price of $13.20. The stock has a market capitalization of $1.72 billion, a P/E ratio of -42.80 and a beta of 1.99.
Sonos (NASDAQ:SONO - Get Free Report) last released its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The company had revenue of $255.38 million during the quarter, compared to analysts' expectations of $247.92 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The firm's revenue was down 16.3% compared to the same quarter last year. Research analysts forecast that Sonos, Inc. will post -0.3 earnings per share for the current year.
Institutional Investors Weigh In On Sonos
A number of large investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Sonos during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sonos in the 2nd quarter valued at $46,000. KBC Group NV raised 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 acquiring an additional 1,670 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after buying an additional 1,352 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Sonos by 927.0% in the third quarter. International Assets Investment Management LLC now owns 7,497 shares of the company's stock valued at $92,000 after buying an additional 6,767 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.
Sonos Company Profile
(
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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