The stock of Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) increased by $0.07 on Wednesday to $0.40, up 22.13 percent. The last five days have seen an average of 4,109,612 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$0.7093. The average number of shares traded over the last 20 days was 1,640,463, while the average volume over the last 50 days totaled 2,928,277.
SONN stock appreciated 5.58% since last month. On 07/31/23, the company’s shares reached a one-month low of $0.3100. The stock touched a high of $4.20 on 01/09/23, after rallying from a low of $0.20 in 52 weeks. The price of SONN stock has declined by -65.26% or -$0.7093 this year, reaching a new high 4 times. Still, the stock price is down -90.49% from the 52-week high.
Insider Transactions
SONN stock investors should be aware that Sonnet BioTherapeutics Holdings Inc. (SONN) stock had its last reported insider trading activity 63 days ago on Jun 14. On Jun 14, Chief Technical Officer Dexter Susan acquired 10,000 shares at $0.70 each. This transaction resulted in the insider spending $7,000. On May 30, Dyrness Albert D. added 23,255 shares at a price of US$0.47. After the transaction, the insider now owns 28,962 shares. Director Bhatt Nailesh had earlier bought 25,000 shares on May 17 for $0.23 a share. The transaction was completed for $5,800.
Valuation Metrics
Beta for the stock is 0.50. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 78.70, the price-to-book (PB) ratio of 1.21.
Financial Health
For the three months ended June 29, Sonnet BioTherapeutics Holdings Inc.’s quick ratio was 1.70, while its current ratio was 1.70, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $0.35 million and revenue of $0.35 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SONN’s return on assets (ROA) during the last 12 months has been -336.00%.
Earnings Surprise
According to Sonnet BioTherapeutics Holdings Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $40000.0, while revenues fell by -225.0% to $60000.0. It was predicted that Sonnet BioTherapeutics Holdings Inc.’s quarterly earnings would be -$0.13, but it ended up being -$0.31, beating the consensus by 58.10%. EBITDA was -$3.9 million for the quarter. Equity owned by shareholders amounts to $38.51 million.
Technical Picture
Here’s a quick look at Sonnet BioTherapeutics Holdings Inc.’s (SONN) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 69.52%, suggesting the stock is Neutral, with a 160.46% historical volatility rate.
The stochastic %K and %D were 50.74% and 37.97% respectively, while the average true range (ATR) was 0.0409. Based on the 14-day stochastic reading of 96.81%, the RSI (14) reading is 59.42%. On the 9-day MACD Oscillator, the stock is at 0.0117, and the 14-day reading is at 0.0198.
Analyst Ratings
Analysts have assigned Sonnet BioTherapeutics Holdings Inc. (SONN) an Buy rating. SONN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is SONN’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.00 and $14.00, with a median target price of $6.70. In analyzing these forecasts, the average price target given by analysts for Sonnet BioTherapeutics Holdings Inc. (SONN) is $7.57.
