Sonendo, Inc. (NYSE:SONX) CEO Bjarne Bergheim Acquires 11,748 Shares

Sonendo, Inc. (NYSE:SONX – Get Rating) CEO Bjarne Bergheim purchased 11,748 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was purchased at an average price of $2.60 per share, for a total transaction of $30,544.80. Following the purchase, the chief executive officer now directly owns 921,097 shares of the company’s stock, valued at approximately $2,394,852.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bjarne Bergheim also recently made the following trade(s):

• On Wednesday, May 18th, Bjarne Bergheim purchased 12,000 shares of Sonendo stock. The stock was purchased at an average price of $2.67 per share, for a total transaction of $32,040.00.
• On Monday, May 16th, Bjarne Bergheim purchased 30,000 shares of Sonendo stock. The stock was purchased at an average price of $2.95 per share, for a total transaction of $88,500.00.
• On Friday, May 13th, Bjarne Bergheim sold 4,101 shares of Sonendo stock. The shares were sold at an average price of $2.78, for a total transaction of $11,400.78.

Shares of NYSE:SONX opened at $2.71 on Thursday. Sonendo, Inc. has a 1-year low of $2.50 and a 1-year high of $12.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.02 and a current ratio of 6.86. The company has a 50 day moving average price of $3.41 and a 200 day moving average price of $5.80.

Sonendo (NYSE:SONX – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). Sell-side analysts predict that Sonendo, Inc. will post -2.24 earnings per share for the current year.

Several research analysts have recently issued reports on SONX shares. The Goldman Sachs Group decreased their price objective on shares of Sonendo from $30.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Zacks Investment Research upgraded shares of Sonendo from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley started coverage on shares of Sonendo in a report on Monday, January 31st. They issued an “equal weight” rating and a $6.90 price objective for the company. Finally, Piper Sandler decreased their price objective on shares of Sonendo from $12.00 to $7.00 in a report on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.32.

Several large investors have recently modified their holdings of SONX. Northern Trust Corp purchased a new stake in shares of Sonendo in the 4th quarter valued at approximately $76,000. Bank of America Corp DE purchased a new stake in shares of Sonendo in the 4th quarter valued at approximately $31,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Sonendo in the 4th quarter valued at approximately $4,796,000. Ensign Peak Advisors Inc purchased a new stake in shares of Sonendo in the 4th quarter valued at approximately $958,000. Finally, General Atlantic L.P. purchased a new stake in shares of Sonendo in the 4th quarter valued at approximately $18,822,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

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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