Brokerages Expect Sonendo, Inc. (NYSE:SONX) Will Post Quarterly Sales of $9.74 Million

Equities research analysts expect Sonendo, Inc. (NYSE:SONX – Get Rating) to announce $9.74 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Sonendo’s earnings, with the highest sales estimate coming in at $9.98 million and the lowest estimate coming in at $9.50 million. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sonendo will report full year sales of $41.80 million for the current financial year, with estimates ranging from $41.20 million to $42.40 million. For the next fiscal year, analysts expect that the company will report sales of $57.72 million, with estimates ranging from $57.30 million to $58.13 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Sonendo.

Sonendo (NYSE:SONX – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02).

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Sonendo from $12.00 to $7.00 in a report on Wednesday. Morgan Stanley assumed coverage on shares of Sonendo in a report on Monday, January 31st. They set an “equal weight” rating and a $6.90 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Sonendo from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Finally, Zacks Investment Research lowered shares of Sonendo from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sonendo presently has a consensus rating of “Buy” and an average target price of $10.32.

Shares of SONX traded up $0.04 during trading hours on Friday, hitting $2.60. The stock had a trading volume of 161,525 shares, compared to its average volume of 130,779. The company’s fifty day moving average is $3.61 and its two-hundred day moving average is $6.13. The company has a quick ratio of 6.19, a current ratio of 6.86 and a debt-to-equity ratio of 0.46. Sonendo has a 52 week low of $2.50 and a 52 week high of $12.24.

A number of institutional investors have recently added to or reduced their stakes in SONX. Bank of America Corp DE acquired a new position in Sonendo during the 4th quarter valued at about $31,000. Wealthsource Partners LLC acquired a new position in Sonendo during the 1st quarter valued at about $40,000. Northern Trust Corp acquired a new position in Sonendo during the 4th quarter valued at about $76,000. Cubist Systematic Strategies LLC acquired a new position in Sonendo during the 4th quarter valued at about $82,000. Finally, Point72 Asset Management L.P. acquired a new position in Sonendo during the 4th quarter valued at about $115,000. Institutional investors own 80.42% of the company’s stock.

Sonendo Company Profile (Get Rating)

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 device for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.

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