Zacks: Analysts Anticipate Sonendo, Inc. (NYSE:SONX) to Post -$0.56 EPS

Equities analysts predict that Sonendo, Inc. (NYSE:SONX – Get Rating) will report earnings per share of ($0.56) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sonendo’s earnings. The highest EPS estimate is ($0.52) and the lowest is ($0.59). The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Sonendo will report full-year earnings of ($2.24) per share for the current year, with EPS estimates ranging from ($2.31) to ($2.11). For the next fiscal year, analysts expect that the firm will report earnings of ($1.56) per share, with EPS estimates ranging from ($1.64) to ($1.49). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Sonendo.

Sonendo (NYSE:SONX – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02).

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

In related news, CEO Bjarne Bergheim acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average price of $2.95 per share, for a total transaction of $88,500.00. Following the completion of the acquisition, the chief executive officer now owns 863,450 shares of the company’s stock, valued at approximately $2,547,177.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vamsi Mohan Raj Pudipeddi acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average price of $2.65 per share, with a total value of $132,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $132,500. The disclosure for this purchase can be found here. In the last quarter, insiders bought 170,151 shares of company stock valued at $462,595 and sold 12,304 shares valued at $34,205. Corporate insiders own 11.60% of the company’s stock.

A number of large investors have recently modified their holdings of the business. State Street Corp bought a new position in Sonendo during the first quarter worth about $83,000. Baird Financial Group Inc. bought a new position in Sonendo during the first quarter worth about $303,000. Vanguard Group Inc. boosted its position in Sonendo by 12.1% during the first quarter. Vanguard Group Inc. now owns 447,738 shares of the company’s stock worth $1,795,000 after purchasing an additional 48,171 shares during the period. Nicholas Investment Partners LP bought a new position in shares of Sonendo in the first quarter valued at approximately $270,000. Finally, Wealthsource Partners LLC bought a new position in shares of Sonendo in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

NYSE SONX traded up $0.26 during trading on Thursday, reaching $2.97. The company’s stock had a trading volume of 191,932 shares, compared to its average volume of 137,647. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.02 and a current ratio of 6.86. Sonendo has a 12 month low of $2.50 and a 12 month high of $12.24. The firm has a 50 day moving average price of $3.34 and a 200 day moving average price of $5.76.

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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