Sonos, Inc. (NASDAQ:SONO) Short Interest Update

Sonos, Inc. (NASDAQ:SONO) was the target of a large increase in short interest during the month of 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. Based on an average daily trading volume, of 2,070,000 shares, the short-interest ratio is currently 3.7 days. Approximately 6.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities restated a “buy” rating and set a $18.00 price objective on shares of Sonos in a report on Friday, February 7th.

Institutional Trading of Sonos

Large investors have recently added to or reduced their stakes in the stock. 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 Sonos in the 4th quarter valued at $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in Sonos in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC increased its holdings in Sonos by 191.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after purchasing an additional 1,721 shares in the last quarter. Finally, KBC Group NV increased its holdings in 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 purchasing an additional 1,670 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Stock Performance

SONO stock opened at $13.33 on Friday. The business has a fifty day simple moving average of $14.34 and a 200-day simple moving average of $13.18. Sonos has a 52 week low of $10.23 and a 52 week high of $19.76.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Sonos will post -0.3 EPS for the current year.

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.