Sonendo, Inc. (NYSE:SONX) CEO Acquires $30,544.80 in Stock

Posted by on May 26th, 2022

Sonendo, Inc. (NYSE:SONX – Get Rating) CEO Bjarne Bergheim acquired 11,748 shares of the stock in a transaction dated Wednesday, May 25th. The shares were bought at an average cost of $2.60 per share, with a total value of $30,544.80. Following the completion of the purchase, the chief executive officer now directly owns 921,097 shares in the company, valued at $2,394,852.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bjarne Bergheim also recently made the following trade(s):

  • On Wednesday, May 18th, Bjarne Bergheim acquired 12,000 shares of Sonendo stock. The shares were bought at an average cost of $2.67 per share, with a total value of $32,040.00.
  • On Monday, May 16th, Bjarne Bergheim purchased 30,000 shares of Sonendo stock. The shares were acquired at an average cost of $2.95 per share, with a total value of $88,500.00.
  • On Friday, May 13th, Bjarne Bergheim sold 4,101 shares of Sonendo stock. The stock was sold at an average price of $2.78, for a total transaction of $11,400.78.

NYSE:SONX opened at $2.71 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.86 and a quick ratio of 6.02. The firm has a 50-day moving average of $3.41 and a two-hundred day moving average of $5.80. Sonendo, Inc. has a 1-year low of $2.50 and a 1-year high of $12.24.

Sonendo (NYSE:SONX – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). On average, research analysts expect that Sonendo, Inc. will post -2.24 EPS for the current year.

A number of brokerages recently weighed in on SONX. Zacks Investment Research raised shares of Sonendo from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler decreased their price target on shares of Sonendo from $12.00 to $7.00 in a research report on Wednesday, May 11th. The Goldman Sachs Group decreased their price target on shares of Sonendo from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Finally, Morgan Stanley began coverage on shares of Sonendo in a research report on Monday, January 31st. They issued an “equal weight” rating and a $6.90 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.32.

Several institutional investors have recently modified their holdings of the company. State Street Corp acquired a new stake in shares of Sonendo in the 1st quarter valued at about $83,000. Baird Financial Group Inc. acquired a new stake in shares of Sonendo in the 1st quarter valued at about $303,000. Vanguard Group Inc. raised its stake in shares of Sonendo by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 447,738 shares of the company’s stock valued at $1,795,000 after purchasing an additional 48,171 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of Sonendo in the 1st quarter valued at about $270,000. Finally, Wealthsource Partners LLC acquired a new stake in shares of Sonendo in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

About Sonendo (Get Rating)

Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment device for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.

Further Reading

Insider Buying and Selling by Quarter for Sonendo (NYSE:SONX)

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