Sonova (OTCMKTS:SONVY) Sees Large Volume Increase – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) shares saw an uptick in trading volume on Thursday. Approximately 162,234 shares traded hands during trading, an increase of 454% from the previous session’s volume of 29,299 shares. The stock last traded at $65.76 and had previously closed at $64.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SONVY shares. The Goldman Sachs Group raised Sonova from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Citigroup reiterated a “sell” rating on shares of Sonova in a research note on Friday, July 24th. Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, UBS Group upgraded shares of Sonova from a “hold” rating to a “buy” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Sonova Price Performance

The company’s 50-day moving average price is $59.07 and its 200-day moving average price is $52.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.75.

Sonova Company Profile

Sonova Holding AG is a Switzerland-based hearing-care company that develops, manufactures and distributes solutions for people with hearing loss. Its products and services include hearing aids, cochlear implants, wireless communication systems and related accessories, as well as professional hearing-care services.

The company’s portfolio includes well-known brands such as Phonak, Unitron and Advanced Bionics. Sonova also operates hearing-care retail businesses in several markets, serving customers through audiology clinics, specialist retailers and other distribution channels.

Founded in 1947 and headquartered in Stäfa, Switzerland, Sonova serves customers through operations and sales networks across Europe, North America, Asia-Pacific and other international markets.