Sonendo (SONX) to Release Earnings on Tuesday

Sonendo (NYSE:SONXGet Rating) is set to issue its quarterly earnings data after the market closes on Tuesday, May 10th. Analysts expect the company to announce earnings of ($0.57) per share for the quarter. Sonendo has set its FY 2022 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Sonendo (NYSE:SONXGet Rating) last issued its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.22). On average, analysts expect Sonendo to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Shares of Sonendo stock opened at $3.22 on Tuesday. The company has a current ratio of 6.75, a quick ratio of 6.19 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $3.94. Sonendo has a 52 week low of $2.60 and a 52 week high of $12.24.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Sonendo during the fourth quarter valued at $2,026,000. Marshall Wace LLP acquired a new stake in shares of Sonendo in the fourth quarter valued at $1,422,000. Goldman Sachs Group Inc. acquired a new stake in shares of Sonendo in the fourth quarter valued at $1,043,000. Woodline Partners LP acquired a new stake in shares of Sonendo in the fourth quarter valued at $936,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Sonendo in the fourth quarter valued at $473,000. 80.42% of the stock is owned by institutional investors.

Several analysts have issued reports on SONX shares. Zacks Investment Research downgraded Sonendo from a “buy” rating to a “hold” rating in a report on Thursday, February 10th. Piper Sandler dropped their price objective on Sonendo from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, March 24th. Morgan Stanley assumed coverage on Sonendo in a report on Monday, January 31st. They issued an “equal weight” rating and a $6.90 price objective on the stock. Finally, The Goldman Sachs Group lowered their price target on Sonendo from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $11.15.

Sonendo Company Profile (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.

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