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

SharkNinja, Inc. (NYSE:SN) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totaling 6,437,031 shares, a decline of 18.3% from the December 15th total of 7,878,279 shares. Based on an average daily trading volume, of 984,614 shares, the short-interest ratio is currently 6.5 days. Approximately 4.6% of the shares of the company are sold short. Approximately 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 984,614 shares, the short-interest ratio is currently 6.5 days.

Institutional Investors Weigh In On SharkNinja

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of SharkNinja by 21.8% during the 1st quarter. Royal Bank of Canada now owns 71,872 shares of the company’s stock valued at $5,995,000 after purchasing an additional 12,851 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of SharkNinja in the 1st quarter valued at approximately $369,000. Goldman Sachs Group Inc. boosted its stake in SharkNinja by 169.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 505,301 shares of the company’s stock worth $42,147,000 after purchasing an additional 317,730 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in SharkNinja by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 50,813 shares of the company’s stock valued at $4,238,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of SharkNinja in the first quarter worth $656,000. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Stock Down 2.0%

NYSE SN traded down $2.59 during midday trading on Tuesday, hitting $124.47. 636,084 shares of the company traded hands, compared to its average volume of 1,615,757. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.26. The company has a market cap of $17.57 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. SharkNinja has a 52 week low of $60.50 and a 52 week high of $129.19. The company’s 50-day simple moving average is $107.99 and its 200-day simple moving average is $107.83.

Analyst Upgrades and Downgrades

SN has been the topic of several recent analyst reports. Canaccord Genuity Group set a $140.00 target price on SharkNinja in a research note on Thursday, January 8th. JPMorgan Chase & Co. upped their price target on shares of SharkNinja from $126.00 to $142.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen assumed coverage on SharkNinja in a research note on Wednesday, December 10th. They set a “buy” rating and a $135.00 target price on the stock. Morgan Stanley set a $110.00 price objective on SharkNinja in a report on Monday, October 27th. Finally, Guggenheim upped their price target on shares of SharkNinja from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.75.

SharkNinja Company Profile

SharkNinja (NYSE: SN) is a leading designer, marketer and distributor of innovative small home appliances under the Shark® and Ninja® brands. The company’s product portfolio spans floorcare, cleaning and home environment products, including upright, cordless and robotic vacuum cleaners, steam mops and air purifiers. In the kitchen category, SharkNinja offers a broad range of cooking and food preparation solutions, such as countertop ovens, air fryers, multicookers, blenders and coffee makers. Its products are positioned to deliver user-friendly performance, innovative features and durable design for everyday household tasks.

Founded in 1998 as Euro-Pro Operating LLC, the company initially focused on the European market before expanding its presence in North America.