Sonos (NASDAQ:SONO) Stock Price Up 4.7% – Time to Buy?

Shares of Sonos, Inc. (NASDAQ:SONO) were up 4.7% on Monday . The stock traded as high as $12.44 and last traded at $12.50. Approximately 407,618 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,170,200 shares. The stock had previously closed at $11.93.

Analyst Upgrades and Downgrades

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

Sonos Stock Up 4.9 %

The business’s fifty day moving average is $14.14 and its 200 day moving average is $13.18. The stock has a market cap of $1.49 billion, a PE ratio of -21.97 and a beta of 1.97.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. As a group, analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Sonos

Several hedge funds have recently modified their holdings of SONO. Barclays PLC boosted its position in shares of Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after acquiring an additional 504,293 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Sonos by 7,557.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock worth $2,347,000 after purchasing an additional 154,011 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Sonos by 42.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 877,758 shares of the company’s stock valued at $10,788,000 after acquiring an additional 263,060 shares in the last quarter. KBC Group NV increased its stake in shares of Sonos by 52.6% in the fourth quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $111,000 after buying an additional 2,551 shares during the last quarter. Finally, Crestwood Capital Management L.P. bought a new stake in shares of Sonos in the 3rd quarter worth about $922,000. 85.82% of the stock is owned by institutional investors and hedge funds.

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.