SharkNinja, Inc. (NYSE:SN) Sees Significant Drop in Short Interest

SharkNinja, Inc. (NYSE:SN) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,570,000 shares, a decrease of 20.7% from the March 15th total of 1,980,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of SharkNinja

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in SharkNinja in the 4th quarter valued at $37,000. Orion Portfolio Solutions LLC boosted its stake in SharkNinja by 13.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,654 shares of the company’s stock valued at $333,000 after purchasing an additional 786 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in SharkNinja in the 3rd quarter valued at $42,000. Tower Research Capital LLC TRC acquired a new position in SharkNinja in the 4th quarter valued at $97,000. Finally, 1492 Capital Management LLC raised its holdings in SharkNinja by 16.0% in the 4th quarter. 1492 Capital Management LLC now owns 15,884 shares of the company’s stock valued at $813,000 after acquiring an additional 2,193 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Stock Performance

Shares of NYSE SN traded up 0.49 during midday trading on Monday, hitting 61.76. 805,644 shares of the company’s stock were exchanged, compared to its average volume of 993,376. The company has a quick ratio of 1.06, a current ratio of 1.69 and a debt-to-equity ratio of 0.52. SharkNinja has a 12 month low of 25.84 and a 12 month high of 65.61. The company’s 50 day moving average price is 56.81 and its 200 day moving average price is 50.29. The firm has a market capitalization of $8.59 billion and a PE ratio of 15.88.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, February 15th. The company reported 0.94 EPS for the quarter, topping the consensus estimate of 0.86 by 0.08. The company had revenue of 1.38 billion during the quarter, compared to the consensus estimate of 1.31 billion. SharkNinja had a return on equity of 24.71% and a net margin of 3.93%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, analysts predict that SharkNinja will post 3.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SN. The Goldman Sachs Group raised their price target on SharkNinja from $52.00 to $59.00 and gave the company an “action list buy” rating in a report on Friday, February 16th. Morgan Stanley assumed coverage on SharkNinja in a research report on Tuesday, January 30th. They issued an “equal weight” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on SharkNinja in a research report on Thursday, April 4th. They issued an “overweight” rating and a $70.00 target price on the stock. Guggenheim assumed coverage on SharkNinja in a research report on Monday, February 5th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on SharkNinja from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of 65.00.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.