Sonova (OTCMKTS:SONVY) Shares Gap Up – Here’s Why

Sonova Holding (OTCMKTS:SONVY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $49.24, but opened at $53.0050. Sonova shares last traded at $52.42, with a volume of 1,265 shares traded.

Analyst Ratings Changes

SONVY has been the topic of several recent research reports. UBS Group raised shares of Sonova from a “neutral” rating to a “buy” rating in a report on Wednesday. Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, Citigroup reissued a “sell” rating on shares of Sonova in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sonova presently has an average rating of “Hold”.

Sonova Stock Performance

The business’s 50 day moving average price is $50.08 and its 200 day moving average price is $49.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.75.

Sonova Company Profile

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.