Sonos Inc (NASDAQ:SONO) shares, rose in value, with the stock price up by 0.91% to the previous day’s close as strong demand from buyers drove the stock to $18.81.
Actively observing the price movement in the last trading, the stock closed the session at $18.64. The value of beta (5-year monthly) was 1.99. Referring to stock’s 52-week performance, its high was $21.98, and the low was $9.78. On the whole, SONO has fluctuated by 0.64% over the past month.
With the market capitalization of Sonos Inc currently standing at about $2.33 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SONO’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SONO currently trading nearly -0.08% and 7.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.74, while the 7-day volatility ratio is showing 2.36% which for the 30-day chart, stands at 2.44%. Furthermore, Sonos Inc (SONO)’s beta value is 1.99, and its average true range (ATR) is 0.52.
A comparison of Sonos Inc (SONO) with its peers suggests the former has fared considerably weaker in the market. SONO showed an intraday change of 0.91% in last session, and over the past year, it shrunk by -2.18%%.
Data on historical trading for Sonos Inc (NASDAQ:SONO) indicates that the trading volumes over the past 10 days have averaged 1.66 million and over the past 3 months, they’ve averaged 2.09 million. According to company’s latest data on outstanding shares, there are 125.11 million shares outstanding.
Nearly 1.75% of Sonos Inc’s shares belong to company insiders and institutional investors own 88.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.62 million shares as on Feb 29, 2024, resulting in a short ratio of 2.12. According to the data, the short interest in Sonos Inc (SONO) stood at 4.54% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 6.1 million. The stock has risen by 9.74% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SONO stock heading into the next quarter.
