Sonos (NASDAQ:SONO) Trading Down 7.6% - Time to Sell?

Shares of Sonos, Inc. (NASDAQ:SONO - Get Free Report) traded down 7.6% on Monday . The company 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.

Analyst Ratings Changes

Separately, Morgan Stanley cut Sonos from an "overweight" rating to an "underweight" rating and lowered their price objective for the company from $25.00 to $11.00 in a research report on Thursday, September 26th.

Sonos Trading Down 0.8 %

The company has a 50-day moving average price of $14.22 and a two-hundred day moving average price of $13.22. The stock has a market cap of $1.75 billion, a P/E ratio of -43.64 and a beta of 1.99.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $255.38 million for the quarter, compared to analysts' expectations of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The company's revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, equities analysts forecast that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Sonos

Several institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in shares of Sonos in the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sonos in the 2nd quarter valued at about $46,000. GAMMA Investing LLC increased its holdings in shares of Sonos by 50.1% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock valued at $61,000 after acquiring an additional 1,352 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Sonos by 138.8% in the 2nd 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 last quarter. Finally, KBC Group NV increased its holdings in shares of Sonos by 52.5% in the 3rd 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 during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

About Sonos

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.