Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) saw a downside of -8.03% to close Tuesday at $0.28 after subtracting -$0.02 on the day. The 5-day average trading volume is 7,278,260 shares of the company’s common stock. It has gained $0.4585 in the past week and touched a new high 1 time within the past 5 days. An average of 2,374,285 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,057,934.
SONN’s 1-month performance is -25.67% or -$0.0960 on its low of $0.2710 reached on 08/22/23. The company’s shares have touched a 52-week low of $0.20 and high of $4.20, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, SONN has lost -75.90% or -$0.8729 and has reached a new high 4 times. However, the current price is down -93.40% from the 52-week high price.
Valuation Metrics
SONN stock has a beta of 0.52. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 58.57 while the price-to-book (PB) in the most recent quarter is 0.84.
Sonnet BioTherapeutics Holdings Inc.’s quick ratio for the period ended June 29 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 June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -107.85% to -$3.95 million, while revenue of -$5.54 million was -40.25% off the previous quarter. Analysts expected SONN to announce -$0.31 per share in earnings in its latest quarter, but it posted -$0.13, representing a 58.10% surprise. EBITDA for the quarter stood at more than -$3.9 million. SONN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 6.62 million, with total debt at $0.22 million. Shareholders hold equity totaling $38.51 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 22 August was 29.92% to suggest the stock is trending oversold, with historical volatility in this time period at 112.00%.
The stock’s 5-day moving average is $0.3244, reflecting a -15.29% or -$0.0500 change from its current price. SONN is currently trading -25.51% above its 20-day SMA, -16.79% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -43.79% and SMA200 by-86.48%.
Stochastic %K and %D was 8.59% and 17.88% and the average true range (ATR) pointed at 0.0417. The RSI (14) points at 33.65%, while the 14-day stochastic is at 3.25% with the period’s ATR at 0.0443. The stock’s 9-day MACD Oscillator is pointing at -0.0314 and -0.0407 on the 14-day charts.
