Sonendo, Inc. (NYSE:SONX) Director Buys $19,500.00 in Stock

Sonendo, Inc. (NYSE:SONX) Director Olav Bergheim purchased 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $0.26 per share, with a total value of $19,500.00. Following the completion of the acquisition, the director now owns 1,171,373 shares of the company’s stock, valued at approximately $304,556.98. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sonendo Price Performance

NYSE SONX opened at $0.25 on Friday. The company has a quick ratio of 5.80, a current ratio of 6.83 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $13.57 million, a PE ratio of -0.38 and a beta of 2.04. The company has a 50 day moving average price of $0.46 and a two-hundred day moving average price of $0.94. Sonendo, Inc. has a 12-month low of $0.21 and a 12-month high of $2.95.

Institutional Trading of Sonendo

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in Sonendo in the fourth quarter valued at approximately $30,000. HighTower Advisors LLC acquired a new stake in Sonendo in the fourth quarter valued at approximately $31,000. XTX Topco Ltd acquired a new stake in Sonendo in the first quarter valued at approximately $39,000. Bank of New York Mellon Corp acquired a new stake in Sonendo in the first quarter valued at approximately $41,000. Finally, Bank of America Corp DE lifted its stake in Sonendo by 210.6% in the first quarter. Bank of America Corp DE now owns 16,618 shares of the company’s stock valued at $66,000 after acquiring an additional 11,267 shares during the last quarter. 59.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SONX. Stifel Nicolaus decreased their price target on shares of Sonendo from $3.00 to $1.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. The Goldman Sachs Group decreased their price target on shares of Sonendo from $1.75 to $1.50 and set a “buy” rating for the company in a report on Thursday, November 9th. Piper Sandler decreased their price target on shares of Sonendo from $1.00 to $0.40 and set a “neutral” rating for the company in a report on Thursday, November 9th. Finally, Morgan Stanley decreased their price target on shares of Sonendo from $5.00 to $4.60 and set an “equal weight” rating for the company in a report on Thursday, November 9th.

Sonendo Company Profile

Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment, a technology platform designed for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.