Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) saw a downside of -8.24% to $0.33 after subtracting -$0.03 on Tuesday. The 5-day average trading volume is 935,526 shares of the company’s common stock. It has gained $0.3950 in the past week and touched a new high 3 times within the past 5 days. An average of 975,006 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,257,547.
SONN’s 1-month performance is -27.42% or -$0.1269 on its low of $0.3100 reached on 07/31/23. The company’s shares have touched a 52-week low of $0.20 and high of $4.27, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, SONN has lost -70.96% or -$0.8170 and has reached a new high 4 times. However, the current price is down -92.18% from the 52-week high price.
Valuation Metrics
SONN stock has a beta of 0.50. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 51.80 while the price-to-book (PB) in the most recent quarter is 1.01.
Sonnet BioTherapeutics Holdings Inc.’s quick ratio for the period ended March 30 was 1.70, with the current ratio over the same period at 1.70. The trailing 12-month EBITDA margin is -8174.08%. The firm’s gross profit as reported stood at $0.35 million against revenue of $0.35 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -11.91% to -$5.54 million, while revenue of -$7.44 million was -34.3% off the previous quarter. Analysts expected SONN to announce -$0.49 per share in earnings in its latest quarter, but it posted -$0.34, representing a 30.60% surprise. EBITDA for the quarter stood at more than -$5.65 million. SONN stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 7.94 million, with total debt at $0.24 million. Shareholders hold equity totaling $27.48 million.
Let’s look briefly at Sonnet BioTherapeutics Holdings Inc. (SONN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 34.75% to suggest the stock is trending Neutral, with historical volatility in this time period at 75.77%.
The stock’s 5-day moving average is $0.3496, reflecting a +2.49% or $0.0081 change from its current price. SONN is currently trading -28.08% above its 20-day SMA, -40.56% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -16.75% and SMA200 by-71.78%.
Stochastic %K and %D was 46.00% and 40.50% and the average true range (ATR) pointed at 0.0373. The RSI (14) points at 37.17%, while the 14-day stochastic is at 27.06% with the period’s ATR at 0.0454. The stock’s 9-day MACD Oscillator is pointing at 0.0120 and 0.0028 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for SONN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate SONN as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 3 have offered a “buy” rating.
What is SONN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.00 and a high of $14.00, with their median price target at $6.70. Looking at these predictions, the average price target given by analysts is for Sonnet BioTherapeutics Holdings Inc. (SONN) stock is $7.57.
