Sonova (OTCMKTS:SONVY) Trading Down 5.7% – Here’s Why

Sonova Holding (OTCMKTS:SONVY)’s share price dropped 5.7% during mid-day trading on Friday . The company traded as low as $50.96 and last traded at $51.22. Approximately 2,227 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 26,732 shares. The stock had previously closed at $54.34.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SONVY. Sanford C. Bernstein raised shares of Sonova from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 18th. BNP Paribas began coverage on Sonova in a report on Monday, October 20th. They set an “underperform” rating on the stock. Rothschild Redb raised Sonova from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Zacks Research lowered Sonova from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Sonova Trading Down 7.0%

The company has a 50-day simple moving average of $56.25 and a two-hundred day simple moving average of $58.58. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.45.

About Sonova

Sonova Holding AG manufactures and sells hearing care solutions for adults and children in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hearing Instruments and Cochlear Implants segments. The Hearing Instruments segments engages in the design, development, manufacture, distribution, and service of hearing instruments and related products, as well as wireless headsets, speech-enhanced hearables, and audiophile headphones under the Phonak, Unitron, Hansaton, and Sennheiser brand names; and audiological care services under the AudioNova, Audium, Audition Santé, Boots Hearingcare, Connect Hearing, Geers, Hansaton, Lapperre, Schoonenberg, and Triton Hearing brands.