Sonendo (NYSE:SONX) Posts Earnings Results, Misses Estimates By $0.22 EPS

Sonendo (NYSE:SONX) issued its quarterly earnings data on Wednesday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.22), reports. Sonendo had a negative return on equity of 121.92% and a negative net margin of 138.88%. The firm had revenue of $7.05 million during the quarter, compared to analyst estimates of $6.30 million.

Sonendo Stock Performance

Shares of SONX stock remained flat at $0.09 during trading hours on Friday. The stock had a trading volume of 43,708 shares, compared to its average volume of 369,455. The stock’s 50 day moving average is $0.11 and its two-hundred day moving average is $0.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.85 and a quick ratio of 1.53. Sonendo has a 52 week low of $0.05 and a 52 week high of $1.47. The company has a market cap of $6.36 million, a price-to-earnings ratio of -0.14 and a beta of 1.62.

Institutional Trading of Sonendo

An institutional investor recently raised its position in Sonendo stock. Masters Capital Management LLC boosted its stake in shares of Sonendo, Inc. (NYSE:SONX) by 185.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,000,000 shares of the company’s stock after purchasing an additional 3,250,000 shares during the period. Masters Capital Management LLC owned 7.62% of Sonendo worth $625,000 as of its most recent filing with the SEC. Institutional investors own 28.68% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus restated a “hold” rating on shares of Sonendo in a research note on Tuesday, March 12th.

About Sonendo

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.