Snap One (NASDAQ:SNPO) Shares Gap Up to $10.50

Snap One Holdings Corp. (NASDAQ:SNPO – Get Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.50, but opened at $11.04. Snap One shares last traded at $10.47, with a volume of 1,548 shares trading hands.

A number of research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Snap One from $21.00 to $18.00 and set a “na” rating for the company in a research report on Monday, May 16th. UBS Group reduced their target price on shares of Snap One from $24.00 to $19.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Morgan Stanley reduced their target price on shares of Snap One from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Snap One from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, March 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.38.

The company’s fifty day moving average is $12.40 and its 200 day moving average is $16.71. The company has a quick ratio of 0.69, a current ratio of 2.12 and a debt-to-equity ratio of 0.65.

Snap One (NASDAQ:SNPO – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The company had revenue of $277.43 million during the quarter, compared to the consensus estimate of $255.06 million. Snap One had a negative net margin of 3.06% and a positive return on equity of 4.89%. On average, analysts predict that Snap One Holdings Corp. will post 0.7 earnings per share for the current year.

In other news, CEO John H. Heyman purchased 5,000 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average cost of $10.90 per share, with a total value of $54,500.00. Following the acquisition, the chief executive officer now directly owns 1,567,579 shares in the company, valued at $17,086,611.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jefferson Dungan purchased 10,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was purchased at an average cost of $10.25 per share, with a total value of $102,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares in the company, valued at $102,500. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in SNPO. BlackRock Inc. bought a new position in Snap One in the 3rd quarter valued at $9,728,000. Citigroup Inc. purchased a new stake in shares of Snap One during the 3rd quarter valued at $25,000. Geode Capital Management LLC purchased a new stake in shares of Snap One during the 3rd quarter valued at $3,964,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Snap One during the 3rd quarter valued at $709,000. Finally, Morgan Stanley purchased a new stake in shares of Snap One during the 3rd quarter valued at $1,222,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Snap One Company Profile (NASDAQ:SNPO)

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.

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