Snap One (NASDAQ:SNPO) Sees Strong Trading Volume

Shares of Snap One Holdings Corp. (NASDAQ:SNPO) saw an uptick in trading volume on Tuesday . 384,324 shares traded hands during mid-day trading, an increase of 139% from the previous session’s volume of 161,093 shares.The stock last traded at $10.58 and had previously closed at $10.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial reissued a “hold” rating and set a $10.75 target price (down from $12.00) on shares of Snap One in a report on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.75 target price (down from $11.00) on shares of Snap One in a research report on Tuesday, April 16th. William Blair lowered Snap One from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. UBS Group lowered their price objective on Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $10.75 target price (up from $10.00) on shares of Snap One in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.05.

Snap One Stock Performance

The company has a market capitalization of $809.79 million, a price-to-earnings ratio of -37.75 and a beta of 1.27. The company has a 50 day moving average price of $8.85 and a 200 day moving average price of $8.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.79 and a current ratio of 2.40.

Snap One (NASDAQ:SNPO) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Snap One had a positive return on equity of 2.77% and a negative net margin of 2.01%. The firm had revenue of $264.39 million during the quarter, compared to analysts’ expectations of $267.62 million. Equities research analysts predict that Snap One Holdings Corp. will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNPO. Bank of New York Mellon Corp raised its holdings in shares of Snap One by 3.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 51,442 shares of the company’s stock worth $475,000 after acquiring an additional 1,771 shares during the last quarter. Summit Creek Advisors LLC raised its stake in shares of Snap One by 0.4% in the third quarter. Summit Creek Advisors LLC now owns 493,030 shares of the company’s stock worth $4,556,000 after purchasing an additional 2,179 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Snap One by 3.2% in the third quarter. First Eagle Investment Management LLC now owns 174,971 shares of the company’s stock valued at $1,617,000 after purchasing an additional 5,487 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Snap One during the fourth quarter valued at approximately $92,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.