Snap One (NASDAQ:SNPO) Sees Unusually-High Trading Volume

Snap One Holdings Corp. (NASDAQ:SNPO) saw strong trading volume on Tuesday . 567,345 shares changed hands during trading, an increase of 501% from the previous session’s volume of 94,341 shares.The stock last traded at $10.56 and had previously closed at $10.54.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.75 price target (down previously from $11.00) on shares of Snap One in a report on Tuesday. Truist Financial reiterated a “hold” rating and set a $10.75 price target (down previously from $12.00) on shares of Snap One in a research report on Tuesday. UBS Group lowered their price objective on shares of Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group reiterated a “hold” rating and set a $10.75 target price (up previously from $10.00) on shares of Snap One in a report on Tuesday. Finally, William Blair cut Snap One from an “outperform” rating to a “market perform” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Snap One presently has a consensus rating of “Hold” and an average price target of $11.05.

Snap One Trading Up 0.5 %

The company’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $8.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.79 and a current ratio of 2.40.

Snap One (NASDAQ:SNPO) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. The company had revenue of $264.39 million for the quarter, compared to the consensus estimate of $267.62 million. As a group, analysts expect that Snap One Holdings Corp. will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Snap One

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in Snap One by 533.0% in the fourth quarter. Barclays PLC now owns 4,836 shares of the company’s stock valued at $35,000 after acquiring an additional 4,072 shares during the period. Citigroup Inc. boosted its holdings in shares of Snap One by 1,447.8% in the second quarter. Citigroup Inc. now owns 5,928 shares of the company’s stock worth $69,000 after buying an additional 5,545 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Snap One by 411.2% during the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the company’s stock valued at $55,000 after buying an additional 4,827 shares during the period. UBS Group AG increased its holdings in Snap One by 2,779.6% during the fourth quarter. UBS Group AG now owns 7,890 shares of the company’s stock valued at $58,000 after buying an additional 7,616 shares during the last quarter. Finally, American International Group Inc. raised its position in Snap One by 23.3% in the first quarter. American International Group Inc. now owns 8,839 shares of the company’s stock worth $130,000 after acquiring an additional 1,672 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.