Sonova Holding (OTCMKTS:SONVY) Sees Significant Drop in Short Interest

Sonova Holding (OTCMKTS:SONVY) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 858 shares, a decrease of 74.8% from the June 15th total of 3,402 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 54,140 shares, the short-interest ratio is presently 0.0 days.

Sonova Stock Performance

Shares of SONVY traded down $0.12 during mid-day trading on Friday, hitting $50.24. The company’s stock had a trading volume of 10,572 shares, compared to its average volume of 20,820. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.75. The firm has a 50-day moving average price of $49.38 and a 200 day moving average price of $49.81. Sonova has a fifty-two week low of $42.26 and a fifty-two week high of $61.09.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SONVY shares. Morgan Stanley upgraded Sonova from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group lowered Sonova from a “hold” rating to a “moderate sell” rating in a report on Wednesday, March 18th. Finally, Citigroup reaffirmed a “sell” rating on shares of Sonova in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About Sonova

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.