Sonova (OTCMKTS:SONVY) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Sonova Holding (OTCMKTS:SONVY) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $47.89 and traded as high as $51.21. Sonova shares last traded at $50.58, with a volume of 11,683 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SONVY shares. Citigroup reiterated a “sell” rating on shares of Sonova in a research report on Wednesday, May 13th. Jefferies Financial Group cut Sonova from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, March 18th. Finally, BNP Paribas Exane upgraded Sonova from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Sonova Trading Down 0.1%

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.91. The stock has a 50-day simple moving average of $48.10 and a 200-day simple moving average of $49.97.

About Sonova

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.