Sonova (OTCMKTS:SONVY) Shares Gap Up – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) shares gapped up prior to trading on Monday . The stock had previously closed at $48.28, but opened at $51.2590. Sonova shares last traded at $51.2050, with a volume of 725 shares trading hands.

Analysts Set New Price Targets

SONVY has been the subject of several research analyst reports. Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group cut shares of Sonova from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, March 18th. Citigroup reaffirmed a “sell” rating on shares of Sonova in a report on Wednesday, May 13th. Finally, BNP Paribas Exane upgraded shares of Sonova from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Sonova Price Performance

The stock’s fifty day moving average is $48.70 and its 200 day moving average is $49.83. The company has a current ratio of 1.75, a quick ratio of 1.43 and a debt-to-equity ratio of 0.51.

Sonova Company Profile

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.