As of Friday close, Sovos Brands Inc.’s (NASDAQ:SOVO) stock was down -$0.03, moving down -0.13 percent to $22.51. The average number of shares traded per day over the past five days has been 1,397,920 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.03 fall in that time frame. In the last twenty days, the average volume was 1,932,075, while in the previous 50 days, it was 1,039,624.
Since last month, SOVO stock rose 18.91%. Shares of the company fell to $17.54 on 07/31/23, the lowest level in the past month. A 52-week high of $22.63 was reached on 08/07/23 after having rallying from a 52-week low of $12.74. Since the beginning of this year, SOVO’s stock price has risen by 56.65% or $8.14, and marked a new high 19 times. However, the stock has declined by -0.53% since its 52-week high.
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Sponsored
SOVO stock investors should be aware that Sovos Brands Inc. (SOVO) stock had its last reported insider trading activity 5 days ago on Aug 14. LACHMAN TODD R, the PRESIDENT AND CEO of the company, disposed of 45,000 shares for $22.55 on Aug 14. It resulted in a $1,014,669 divestment by the insider. LACHMAN TODD R sold 11,250 shares at an average price of $22.55 on Aug 14. The insider now owns 347,328 shares following the transaction. On Aug 11, PRESIDENT AND CEO LACHMAN TODD R sold 45,000 shares at $22.56 apiece. The transaction was valued at $1,015,416.
Valuation Metrics
The stock’s beta is -0.10. Besides these, the trailing price-to-sales (P/S) ratio of 2.43, the price-to-book (PB) ratio of 4.55, and the price-to-cash flow ratio of 40.15 may also be considered.
Financial Health
In the three months ended June 29, Sovos Brands Inc.’s quick ratio stood at 2.30, while its current ratio was 3.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.96, and the total debt-to-equity ratio was 0.96. On the profitability front, the trailing twelve-month gross margin is 29.70% percent. In the year ended June 29, EBITDA margin amounted to 16.93%, whereas operating margins totaled 2.20%. Based on annual data, SOVO earned $246.66 million in gross profit and brought in $878.37 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -2.70%. Return on equity (ROE) for the past 12 months was -2.80%.
In Sovos Brands Inc.’s quarter-end financial report for June 29, it reported total debt of $482.82 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SOVO’s revenue rose 8.9% to $252.79 million during the quarter, while net income inched up to $216.71 million. While analysts expected Sovos Brands Inc. to report $0.13 quarterly earnings, the actual figure was $0.17 per share, beating the consensus estimate by 30.80%. During the quarter, the company generated $25.95 million in EBITDA. The liabilities of Sovos Brands Inc. were 664.33 million at the end of its most recent quarter ended June 29, and its total debt was $498.65 million. The value of shareholders’ equity is $101.32 million.
Technical Picture
This quick technical analysis looks at Sovos Brands Inc.’s (SOVO) price momentum. With a historical volatility rate of 3.05%, the RSI 9-day stood at 81.28% on 18 August.
With respect to its five-day moving average, the current Sovos Brands Inc. price is down by -0.13% percent or -$0.03. At present, SOVO shares trade +19.67% above its 20-day simple moving average and +36.42% percent above its 100-day simple moving average. However, the stock is currently trading approximately +23.01% above its SMA50 and +62.41% above its SMA200.
Stochastic coefficient K was 98.09% and Stochastic coefficient D was 98.27%, while ATR was 0.36. Given the Stochastic reading of 97.62% for the 14-day period, the RSI (14) reading has been calculated as 76.30%. As of today, the MACD Oscillator reading stands at -0.01, while the 14-day reading stands at 1.32.
Analyst Ratings
Stephens launched its rating on Sovos Brands Inc. (NASDAQ: SOVO) to an Overweight in a note to investors on June 23, 2023. Sovos Brands Inc. (SOVO) has been rated Hold by analysts. According to 0 brokerage firms, SOVO is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Sovos Brands Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $23.00, the current consensus forecast for the stock is $23.00 – $24.00. Based on these forecasts, analysts predict Sovos Brands Inc. (SOVO) will achieve an average price target of $23.13.
