Snap One (NASDAQ:SNPO) Shares Gap Up to $8.14

Shares of Snap One Holdings Corp. (NASDAQ:SNPO) gapped up before the market opened on Monday . The stock had previously closed at $8.14, but opened at $10.62. Snap One shares last traded at $10.72, with a volume of 539,297 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNPO shares. Truist Financial reissued a “hold” rating and set a $10.75 price target (down previously from $12.00) on shares of Snap One in a report on Tuesday. UBS Group lowered their price target on Snap One from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.75 price target (down previously from $11.00) on shares of Snap One in a report on Tuesday. Finally, William Blair lowered Snap One from an “outperform” rating to a “market perform” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.13.

Snap One Stock Performance

The stock has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $8.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.40 and a quick ratio of 0.79.

Snap One (NASDAQ:SNPO) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Snap One had a positive return on equity of 2.77% and a negative net margin of 2.01%. The company had revenue of $264.39 million for the quarter, compared to analyst estimates of $267.62 million. Analysts expect that Snap One Holdings Corp. will post 0.38 EPS for the current year.

Institutional Investors Weigh In On Snap One

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Snap One during the 4th quarter worth approximately $92,000. First Eagle Investment Management LLC raised its position in shares of Snap One by 3.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 174,971 shares of the company’s stock worth $1,617,000 after purchasing an additional 5,487 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Snap One by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 51,442 shares of the company’s stock worth $475,000 after purchasing an additional 1,771 shares during the last quarter. Summit Creek Advisors LLC raised its position in shares of Snap One by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 493,030 shares of the company’s stock worth $4,556,000 after purchasing an additional 2,179 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Snap One by 41.2% in the 1st quarter. Deutsche Bank AG now owns 10,831 shares of the company’s stock worth $101,000 after acquiring an additional 3,163 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

About Snap One

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.