Sonendo, Inc. (NYSE:SONX – Get Free Report) Director Olav Bergheim acquired 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $0.26 per share, with a total value of $19,500.00. Following the completion of the transaction, the director now directly owns 1,171,373 shares in the company, valued at approximately $304,556.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sonendo Stock Performance
Sonendo stock opened at $0.25 on Friday. The business’s 50-day moving average price is $0.48 and its two-hundred day moving average price is $0.94. Sonendo, Inc. has a 12-month low of $0.21 and a 12-month high of $2.95. The company has a current ratio of 6.83, a quick ratio of 5.80 and a debt-to-equity ratio of 0.98.
Analyst Upgrades and Downgrades
SONX has been the subject of several recent analyst reports. Piper Sandler cut their price objective on Sonendo from $1.00 to $0.40 and set a “neutral” rating for the company in a report on Thursday, November 9th. Stifel Nicolaus cut their price objective on Sonendo from $3.00 to $1.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Morgan Stanley cut their price objective on Sonendo from $5.00 to $4.60 and set an “equal weight” rating for the company in a report on Thursday, November 9th. Finally, The Goldman Sachs Group cut their price target on Sonendo from $1.75 to $1.50 and set a “buy” rating for the company in a report on Thursday, November 9th.
Hedge Funds Weigh In On Sonendo
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in Sonendo in the fourth quarter valued at approximately $30,000. HighTower Advisors LLC purchased a new stake in Sonendo during the 4th quarter worth about $31,000. Bank of America Corp DE lifted its holdings in Sonendo by 210.6% during the 1st quarter. Bank of America Corp DE now owns 16,618 shares of the company’s stock worth $66,000 after purchasing an additional 11,267 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Sonendo by 3.7% during the 1st quarter. Wedbush Securities Inc. now owns 366,683 shares of the company’s stock worth $733,000 after purchasing an additional 13,000 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Sonendo during the 1st quarter worth about $39,000. 59.92% of the stock is owned by institutional investors and hedge funds.
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, a technology platform designed for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.
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