Shares of Sonos, Inc. (NASDAQ:SONO – Get Free Report) traded up 5.2% during mid-day trading on Friday . The stock traded as high as $15.11 and last traded at $15.01. 403,614 shares were traded during trading, a decline of 77% from the average daily volume of 1,735,617 shares. The stock had previously closed at $14.27.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Zacks Research lowered Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings raised Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sonos has a consensus rating of “Hold” and an average price target of $20.00.
View Our Latest Analysis on Sonos
Sonos Stock Performance
Institutional Trading of Sonos
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SONO. AQR Capital Management LLC lifted its holdings in Sonos by 22.4% in the 1st quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock valued at $546,000 after purchasing an additional 9,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sonos by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock worth $768,000 after buying an additional 3,483 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Sonos by 38.5% during the first quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after buying an additional 42,006 shares in the last quarter. Strs Ohio purchased a new stake in shares of Sonos during the first quarter worth about $147,000. Finally, Norges Bank acquired a new position in shares of Sonos in the second quarter valued at approximately $289,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.
About Sonos
Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.
Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.
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