Sonendo Inc. (NYSE:SONX) shares traded 3.10% higher at $2.66 on Wall Street last session.
In accordance with the data, 5 analysts cover Sonendo Inc. (NYSE:SONX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $5.75 and a low of $2.50, we find $3.00. Given the previous closing price of $2.58, this indicates a potential upside of 16.28 percent. SONX stock price is now 24.53% away from the 50-day moving average and 32.11% away from the 200-day moving average. The market capitalization of the company currently stands at $114.86M.
It has been rated a hold by 1 analysts and a buy by 4. Brokers who have rated the stock have averaged $3.45 as their price target over the next twelve months.
With the price target of $6.90, Morgan Stanley recently initiated with Equal-Weight rating for Sonendo Inc. (NYSE: SONX)..
In other news, Kirkpatrick Andrew J, Chief Operating Officer sold 3,701 shares of the company’s stock on Dec 27. The stock was sold for $5,554 at an average price of $1.50. Upon completion of the transaction, the Chief Operating Officer now directly owns 180,989 shares in the company, valued at $0.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 27, Chief Commercial Officer Smith Michael John sold 6,410 shares of the business’s stock. A total of $9,619 was realized by selling the stock at an average price of $1.50. This leaves the insider owning 329,888 shares of the company worth $0.88 million. A total of 2.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SONX stock. A new stake in Sonendo Inc. shares was purchased by DRIEHAUS CAPITAL MANAGEMENT LLC during the first quarter worth $9,800,000. AWM INVESTMENT COMPANY, INC. invested $2,007,000 in shares of SONX during the first quarter. In the first quarter, MASTERS CAPITAL MANAGEMENT LLC acquired a new stake in Sonendo Inc. valued at approximately $1,064,000. FIRST LIGHT ASSET MANAGEMENT, LLC acquired a new stake in SONX for approximately $594,000. HIGHMARK WEALTH MANAGEMENT LLC purchased a new stake in SONX valued at around $573,000 in the second quarter. In total, there are 42 active investors with 42.10% ownership of the company’s stock.
Sonendo Inc. (NYSE: SONX) opened at $2.5800 on Wednesday. During the past 12 months, Sonendo Inc. has had a low of $0.86 and a high of $8.43. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 8.90, and a quick ratio of 7.80. The fifty day moving average price for SONX is $2.1360 and a two-hundred day moving average price translates $2.0135 for the stock.
The latest earnings results from Sonendo Inc. (NYSE: SONX) was released for Jun, 2022. According to the Medical Devices Company, earnings per share came in at -$0.57, missing analysts’ expectations of -$0.56 by -0.01. This compares to -$10.33 EPS in the same period last year. The company reported revenue of $9.85 million for the quarter, compared to $7.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.84 percent. For the current quarter, analysts expect SONX to generate $9.31M in revenue.
Sonendo Inc.(SONX) Company Profile
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. The company also offers SoundSeal, a material used to build and create a sealing platform on the top of the crown; and Sonendo-branded liquid solution of EDTA that is used to help debride and disinfect the root canal system. In addition, it provides The Digital Office, a practice management software to enable an integrated digital office for dental practitioners. The company was formerly known as Dentatek Corporation and changed its name to Sonendo, Inc. in March 2011. Sonendo, Inc. was incorporated in 2006 and is headquartered in Laguna Hills, California.