Vamsi Mohan Raj Pudipeddi Buys 50,000 Shares of Sonendo, Inc. (NYSE:SONX) Stock

Sonendo, Inc. (NYSE:SONX) Director Vamsi Mohan Raj Pudipeddi acquired 50,000 shares of Sonendo stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $0.27 per share, with a total value of $13,500.00. Following the completion of the acquisition, the director now owns 274,498 shares of the company’s stock, valued at approximately $74,114.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sonendo Stock Performance

NYSE:SONX opened at $0.23 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 5.80 and a current ratio of 6.83. Sonendo, Inc. has a 1 year low of $0.21 and a 1 year high of $2.95. The stock’s fifty day moving average price is $0.48 and its two-hundred day moving average price is $0.94.

Analyst Ratings Changes

Several equities analysts have weighed in on SONX shares. Piper Sandler reduced 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. Morgan Stanley dropped their target price on Sonendo from $5.00 to $4.60 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. The Goldman Sachs Group dropped their target price on Sonendo from $1.75 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Finally, Stifel Nicolaus dropped their target price on Sonendo from $3.00 to $1.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st.

Institutional Investors Weigh In On Sonendo

A number of institutional investors and hedge funds have recently made changes to their positions in SONX. Vanguard Group Inc. raised its position in shares of Sonendo by 12.1% in the first quarter. Vanguard Group Inc. now owns 447,738 shares of the company’s stock worth $1,795,000 after buying an additional 48,171 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Sonendo in the first quarter worth $303,000. State Street Corp purchased a new stake in shares of Sonendo in the first quarter worth $83,000. Bank of America Corp DE raised its position in shares of Sonendo by 210.6% in the first quarter. Bank of America Corp DE now owns 16,618 shares of the company’s stock worth $66,000 after buying an additional 11,267 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Sonendo in the second quarter valued at $31,000. Hedge funds and other institutional investors own 59.92% of the company’s stock.

About Sonendo

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.