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

Sonos, Inc. (NASDAQ:SONO) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 7,670,000 shares, a growth of 31.1% from the January 15th total of 5,850,000 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is currently 3.7 days.

Sonos Stock Up 1.2 %

Shares of SONO stock opened at $13.33 on Friday. Sonos has a one year low of $10.23 and a one year high of $19.76. The company’s 50-day simple moving average is $14.34 and its 200-day simple moving average is $13.18.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.22%. Sell-side analysts predict that Sonos will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Sonos

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Sonos during the fourth quarter worth about $30,000. Mountain Hill Investment Partners Corp. bought a new position in Sonos in the fourth quarter worth about $31,000. Gladius Capital Management LP bought a new position in Sonos in the third quarter worth about $30,000. Smartleaf Asset Management LLC lifted its holdings in Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock worth $39,000 after acquiring an additional 1,721 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 during the last quarter. Institutional investors own 85.82% of the company’s stock.

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.