Short Interest in Snap One Holdings Corp. (NASDAQ:SNPO) Grows By 67.3%

Snap One Holdings Corp. (NASDAQ:SNPOGet Free Report) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 318,800 shares, a growth of 67.3% from the April 30th total of 190,600 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily volume of 333,900 shares, the short-interest ratio is presently 1.0 days.

Snap One Price Performance

Shares of NASDAQ SNPO remained flat at $10.71 during trading hours on Thursday. 121,502 shares of the company traded hands, compared to its average volume of 274,345. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.77 and a current ratio of 2.48. The firm has a market capitalization of $819.74 million, a P/E ratio of -27.46 and a beta of 1.11. The firm’s 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $8.86. Snap One has a 1 year low of $6.70 and a 1 year high of $12.06.

Snap One (NASDAQ:SNPOGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.21). Snap One had a positive return on equity of 1.22% and a negative net margin of 2.82%. The firm had revenue of $246.08 million for the quarter, compared to the consensus estimate of $250.89 million. As a group, equities analysts anticipate that Snap One will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Get Our Latest Analysis on SNPO

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its stake in Snap One by 5.3% during the 4th quarter. First Eagle Investment Management LLC now owns 184,211 shares of the company’s stock valued at $1,641,000 after purchasing an additional 9,240 shares in the last quarter. SG Americas Securities LLC acquired a new position in Snap One during the 4th quarter valued at approximately $92,000. Bank of New York Mellon Corp increased its stake in Snap One by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 51,442 shares of the company’s stock valued at $475,000 after purchasing an additional 1,771 shares in the last quarter. Vanguard Group Inc. increased its stake in Snap One by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 886,171 shares of the company’s stock valued at $7,639,000 after purchasing an additional 13,653 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in Snap One by 18.1% during the 1st quarter. Virtu Financial LLC now owns 12,446 shares of the company’s stock valued at $107,000 after purchasing an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Snap One

(Get Free Report)

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.

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