At the last check on Thursday, Sonnet BioTherapeutics Holdings Inc.’s (NASDAQ:SONN) stock was down -$0.07, moving down -23.68 percent to $0.21. The average number of shares traded per day over the past five days has been 1,201,910 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0670 fall in that time frame. In the last twenty days, the average volume was 2,498,907, while in the previous 50 days, it was 1,886,039.
Since last month, SONN stock retreated -35.26%. Shares of the company fell to $0.1904 on 08/31/23, the lowest level in the past month. A 52-week high of $4.20 was reached on 01/09/23 after having rallying from a 52-week low of $0.20. Since the beginning of this year, SONN’s stock price has dropped by -81.48% or -$0.9350, and marked a new high 4 times. However, the stock has declined by -94.93% since its 52-week high.
SONN stock investors should be aware that Sonnet BioTherapeutics Holdings Inc. (SONN) stock had its last reported insider trading activity 78 days ago on Jun 14. Dexter Susan, the Chief Technical Officer of the company, purchased of 10,000 shares for $0.70 on Jun 14. It resulted in a $7,000 investment by the insider. Dyrness Albert D. added 23,255 shares at an average price of $0.47 on May 30. The insider now owns 28,962 shares following the transaction. On May 17, Director Bhatt Nailesh bought 25,000 shares at $0.23 apiece. The transaction was valued at $5,800.
Valuation Metrics
The stock’s beta is 0.53. Besides these, the trailing price-to-sales (P/S) ratio of 40.03, the price-to-book (PB) ratio of 1.77.
Financial Health
In the three months ended June 29, Sonnet BioTherapeutics Holdings Inc.’s quick ratio stood at 1.50, while its current ratio was 1.50, showing that the company is able to pay off its debt. Based on annual data, SONN earned $0.35 million in gross profit and brought in $0.35 million in revenue.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SONN’s revenue fell -50.0% during the quarter, while net income inched up to $40000.0. While analysts expected Sonnet BioTherapeutics Holdings Inc. to report -$0.31 quarterly earnings, the actual figure was -$0.13 per share, beating the consensus estimate by 58.10%. During the quarter, the company generated -$3.9 million in EBITDA. The liabilities of Sonnet BioTherapeutics Holdings Inc. were 6.62 million at the end of its most recent quarter ended June 29, and its total debt was $0.22 million. The value of shareholders’ equity is $38.51 million.
Technical Picture
This quick technical analysis looks at Sonnet BioTherapeutics Holdings Inc.’s (SONN) price momentum. With a historical volatility rate of 134.33%, the RSI 9-day stood at 23.58% on 30 August.
With respect to its five-day moving average, the current Sonnet BioTherapeutics Holdings Inc. price is down by -23.76% percent or -$0.0670. At present, SONN shares trade -38.22% below its 20-day simple moving average and -34.45% percent below its 100-day simple moving average. However, the stock is currently trading approximately -65.87% below its SMA50 and -83.07% below its SMA200.
Stochastic coefficient K was 8.29% and Stochastic coefficient D was 10.99%, while ATR was 0.0388. Given the Stochastic reading of 9.18% for the 14-day period, the RSI (14) reading has been calculated as 28.63%. As of today, the MACD Oscillator reading stands at -0.0221, while the 14-day reading stands at -0.0447.
Analyst Ratings
Sonnet BioTherapeutics Holdings Inc. (SONN) has been rated Buy by analysts. According to 0 brokerage firms, SONN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Sonnet BioTherapeutics Holdings Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $6.70, the current consensus forecast for the stock is $2.00 – $12.00. Based on these forecasts, analysts predict Sonnet BioTherapeutics Holdings Inc. (SONN) will achieve an average price target of $6.90.
