Sonder Holdings Inc. (NASDAQ:SOND) Short Interest Up 20.5% in March

Sonder Holdings Inc. (NASDAQ:SOND) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, an increase of 20.5% from the March 15th total of 996,200 shares. Based on an average trading volume of 36,100 shares, the days-to-cover ratio is currently 33.2 days. Approximately 15.6% of the company’s shares are short sold.

Sonder Stock Performance

SOND opened at $2.43 on Monday. The company has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $3.05. The firm has a market capitalization of $26.89 million, a PE ratio of -0.09 and a beta of 1.85. Sonder has a 52 week low of $0.88 and a 52 week high of $10.50.

Sonder (NASDAQ:SOND) last issued its earnings results on Wednesday, February 12th. The company reported ($17.82) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Sonder

Several institutional investors and hedge funds have recently made changes to their positions in SOND. State Street Corp lifted its holdings in Sonder by 28.6% during the third quarter. State Street Corp now owns 36,019 shares of the company’s stock worth $169,000 after acquiring an additional 8,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sonder by 4.7% during the third quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock worth $478,000 after purchasing an additional 4,612 shares during the period. Two Sigma Securities LLC bought a new position in shares of Sonder during the 4th quarter valued at about $54,000. Northern Trust Corp lifted its holdings in shares of Sonder by 44.7% during the 4th quarter. Northern Trust Corp now owns 43,492 shares of the company’s stock valued at $138,000 after purchasing an additional 13,445 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its position in shares of Sonder by 244.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 5,000,000 shares of the company’s stock valued at $15,900,000 after purchasing an additional 3,550,000 shares during the period. Institutional investors and hedge funds own 45.94% of the company’s stock.

Sonder Company Profile

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.