SharkNinja, Inc. (NYSE:SN) Sees Large Drop in Short Interest

SharkNinja, Inc. (NYSE:SN) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 2,700,000 shares, a decrease of 15.6% from the November 30th total of 3,200,000 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.0% of the shares of the stock are short sold.

SharkNinja Trading Up 1.7 %

NYSE:SN traded up $1.63 during mid-day trading on Tuesday, hitting $97.36. The company had a trading volume of 688,904 shares, compared to its average volume of 1,193,527. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. SharkNinja has a fifty-two week low of $45.85 and a fifty-two week high of $112.93. The firm has a market cap of $13.62 billion, a P/E ratio of 38.18, a P/E/G ratio of 1.65 and a beta of 1.00. The business’s fifty day moving average is $100.42 and its two-hundred day moving average is $93.02.

SharkNinja (NYSE:SN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company posted $0.95 EPS. SharkNinja’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts expect that SharkNinja will post 3.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

SN has been the topic of several research analyst reports. Oppenheimer began coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Guggenheim boosted their target price on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Morgan Stanley raised their price target on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.39.

Hedge Funds Weigh In On SharkNinja

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock worth $1,120,543,000 after buying an additional 3,321,684 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of SharkNinja in the 2nd quarter valued at about $190,482,000. Baillie Gifford & Co. raised its position in SharkNinja by 6,408.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after buying an additional 1,797,578 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after purchasing an additional 380,926 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in SharkNinja in the 3rd quarter valued at $114,878,000. 34.77% of the stock is owned by institutional investors.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.