Sonova (OTCMKTS:SONVY) Shares Gap Up – Time to Buy?

Sonova Holding (OTCMKTS:SONVY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $44.77, but opened at $48.34. Sonova shares last traded at $49.23, with a volume of 1,449 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SONVY. Zacks Research upgraded shares of Sonova from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Citigroup restated a “sell” rating on shares of Sonova in a report on Wednesday, May 13th. BNP Paribas Exane upgraded shares of Sonova from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Jefferies Financial Group lowered shares of Sonova from a “hold” rating to a “moderate sell” rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Sonova has a consensus rating of “Hold”.

Sonova Price Performance

The stock’s 50 day moving average price is $45.99 and its 200 day moving average price is $49.96. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 0.51.

About Sonova

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.