Sonova Holding (OTCMKTS:SONVY) Sees Large Growth in Short Interest

Sonova Holding (OTCMKTS:SONVY) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 58,939 shares, a growth of 428.2% from the October 15th total of 11,158 shares. Based on an average daily volume of 52,624 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.0% of the company’s stock are sold short.

Sonova Stock Down 3.2%

Shares of OTCMKTS:SONVY traded down $2.17 during midday trading on Thursday, hitting $66.04. The stock had a trading volume of 12,372 shares, compared to its average volume of 29,731. Sonova has a 12 month low of $42.26 and a 12 month high of $71.91. The business’s 50-day simple moving average is $62.84 and its 200-day simple moving average is $53.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 1.43.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SONVY shares. The Goldman Sachs Group upgraded Sonova from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Jefferies Financial Group upgraded Sonova from a “moderate sell” rating to a “hold” rating in a report on Monday. UBS Group cut Sonova from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Citigroup reiterated a “sell” rating on shares of Sonova in a report on Friday, July 24th. Finally, Royal Bank Of Canada lowered Sonova from a “moderate buy” rating to a “hold” rating in a research report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

About Sonova

Sonova is a Switzerland-based hearing care company headquartered in Stäfa. Founded in 1947 as AG für Elektroakustik, it has grown into a global provider of products and services for people with hearing loss. The company develops and sells hearing aids under brands including Phonak and Unitron, as well as cochlear implant systems through Advanced Bionics. Its offerings also include wireless hearing solutions and consumer audio products sold under the Sennheiser brand. Sonova serves customers worldwide through product sales and audiological care services, including hearing assessments, fittings and ongoing support.