Sonova Holding (OTCMKTS:SONVY) Sees Significant Decline in Short Interest

Sonova Holding (OTCMKTS:SONVY) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 858 shares, a decline of 74.8% from the June 15th total of 3,402 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 54,140 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group cut Sonova from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, March 18th. Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Citigroup reissued a “sell” rating on shares of Sonova in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sonova Stock Performance

Shares of OTCMKTS:SONVY opened at $50.30 on Tuesday. The business’s 50 day simple moving average is $49.50 and its 200 day simple moving average is $49.78. Sonova has a 1 year low of $42.26 and a 1 year high of $61.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 1.43.

About Sonova

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.