Sonova Holding AG (OTCMKTS:SONVY) Sees Large Decline in Short Interest

Sonova Holding AG (OTCMKTS:SONVY – Get Rating) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totalling 3,100 shares, a decline of 72.1% from the April 30th total of 11,100 shares. Based on an average trading volume of 13,400 shares, the short-interest ratio is currently 0.2 days.

Sonova Stock Up 0.1 %

Shares of OTCMKTS SONVY traded up $0.05 during midday trading on Friday, reaching $52.71. The company’s stock had a trading volume of 8,853 shares, compared to its average volume of 13,388. The company has a 50 day moving average price of $59.72 and a 200 day moving average price of $53.76. Sonova has a one year low of $41.59 and a one year high of $73.30.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut Sonova from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 17th. Sanford C. Bernstein assumed coverage on Sonova in a research note on Friday, May 12th. They issued an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sonova has a consensus rating of “Hold” and an average target price of $295.00.

Sonova Company Profile

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Sonova Holding AG engages in the development and production of hearing care solutions. It operates through the Hearing Instruments and Cochlear Implants business segments. The Hearing Instruments segment includes the activities related to the design, development, production, distribution, and servicing of hearing instruments and related products.