Sonova (OTCMKTS:SONVY) Sees Large Volume Increase – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) shares saw an uptick in trading volume on Thursday. Approximately 162,234 shares traded hands during mid-day trading, an increase of 454% from the previous session’s volume of 29,299 shares. The stock last traded at $65.76 and had previously closed at $64.64.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SONVY. Citigroup reaffirmed a “sell” rating on shares of Sonova in a research report on Friday, July 24th. The Goldman Sachs Group upgraded Sonova from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, June 23rd. Finally, UBS Group upgraded Sonova from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sonova currently has a consensus rating of “Moderate Buy”.

Sonova Stock Up 2.2%

The company has a quick ratio of 1.43, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $59.07 and its two-hundred day moving average is $52.58.

Sonova Company Profile

Sonova Holding AG is a Switzerland-based hearing-care company that develops, manufactures and distributes solutions for people with hearing loss. Its products and services include hearing aids, cochlear implants, wireless communication systems and related accessories, as well as professional hearing-care services.

The company’s portfolio includes well-known brands such as Phonak, Unitron and Advanced Bionics. Sonova also operates hearing-care retail businesses in several markets, serving customers through audiology clinics, specialist retailers and other distribution channels.

Founded in 1947 and headquartered in Stäfa, Switzerland, Sonova serves customers through operations and sales networks across Europe, North America, Asia-Pacific and other international markets.