Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sonos Inc shares valued at $17,340 were sold by Coles Joanna on Apr 04 ’24. At $19.16 per share, Coles Joanna sold 905 shares. The insider’s holdings dropped to 23,664 shares worth approximately $0.42 million following the completion of this transaction.
Also, Coles Joanna sold 905 shares, netting a total of over 17,512 in proceeds. Following the sale of shares at $19.35 each, the insider now holds 13,913 shares.
Before that, Conrad Thomas had sold 5,337 shares from its account. In a trade valued at $97,720, the Director traded Sonos Inc shares for $18.31 each. Upon closing the transaction, the insider’s holdings decreased to 5,337 shares, worth approximately $0.66 million.
As published in a research note from Morgan Stanley on December 12, 2023, Sonos Inc [SONO] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $20 from $17. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of September 20, 2023, Rosenblatt has initiated its “Buy” rating for SONO. Earlier on September 08, 2023, Craig Hallum initiated its rating. Their recommendation was “a Buy” for SONO stock.
Analyzing SONO Stock Performance
During the last five days, there has been a drop of approximately -4.76%. Over the course of the year, Sonos Inc shares have jumped approximately 3.85%. Shares of the company reached a 52-week high of $19.76 on 03/22/24 and a 52-week low of $15.00 on 01/17/24. A 50-day SMA is recorded $18.43, while a 200-day SMA reached $15.47. Nevertheless, trading volume fell to 0.92 million shares from 1.47 million shares the previous day.
Support And Resistance Levels for Sonos Inc (SONO)
According to the 24-hour chart, there is a support level at 17.70, which, if violated, would cause prices to drop to 17.61. In the upper region, resistance lies at 17.94. The next price resistance is at 18.08. RSI (Relative Strength Index) is 39.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 91.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sonos Inc subject to short interest?
Stocks of Sonos Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.24 million shares to 5.71 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.95 million shares. A decline of -4.2% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.44 of the overall float, the days-to-cover ratio (short ratio) decline to 2.44.
