Sonder Holdings Inc. (NASDAQ:SOND – Get Free Report)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $5.40 and last traded at $5.70, with a volume of 10214 shares. The stock had previously closed at $5.77.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. JMP Securities cut shares of Sonder from an “outperform” rating to a “market perform” rating in a report on Thursday, June 29th. Citigroup lowered their target price on shares of Sonder from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 11th.
Get Our Latest Research Report on Sonder
Sonder Stock Up 10.9 %
Sonder (NASDAQ:SOND – Get Free Report) last announced its earnings results on Wednesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. Sonder had a negative net margin of 48.47% and a negative return on equity of 4,207.08%. The company had revenue of $157.40 million during the quarter, compared to analyst estimates of $164.84 million.
Institutional Trading of Sonder
Institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new position in shares of Sonder during the second quarter valued at about $26,000. Tower Research Capital LLC TRC raised its stake in Sonder by 189.4% in the third quarter. Tower Research Capital LLC TRC now owns 15,829 shares of the company’s stock worth $26,000 after buying an additional 10,359 shares in the last quarter. Point72 Middle East FZE bought a new position in Sonder in the second quarter worth about $27,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Sonder during the second quarter valued at approximately $30,000. Finally, Alliancebernstein L.P. bought a new position in shares of Sonder during the fourth quarter valued at approximately $31,000. 42.53% of the stock is currently owned by hedge funds and other institutional investors.
About Sonder
Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and business travelers in North America, Europe, and the Middle East.
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