Sonder (NASDAQ:SOND) Stock Price Up 5.4% – Here’s What Happened

Sonder Holdings Inc. (NASDAQ:SOND)’s share price traded up 5.4% on Wednesday . The stock traded as high as $3.77 and last traded at $3.71. 28,236 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 300,864 shares. The stock had previously closed at $3.52.

Sonder Stock Performance

The stock has a fifty day moving average price of $3.89 and a two-hundred day moving average price of $4.01. The firm has a market capitalization of $41.03 million, a P/E ratio of -0.22 and a beta of 1.58.

Sonder (NASDAQ:SOND) last issued its earnings results on Monday, November 4th. The company reported $2.94 earnings per share for the quarter. The business had revenue of $164.60 million for the quarter.

Hedge Funds Weigh In On Sonder

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Sonder by 4.7% in the third quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock valued at $478,000 after buying an additional 4,612 shares during the last quarter. State Street Corp lifted its position in Sonder by 28.6% in the 3rd quarter. State Street Corp now owns 36,019 shares of the company’s stock valued at $169,000 after purchasing an additional 8,000 shares during the last quarter. Freestone Capital Holdings LLC acquired a new position in Sonder during the 1st quarter valued at about $44,000. Finally, Polar Asset Management Partners Inc. bought a new position in Sonder in the 3rd quarter worth about $6,786,000. 45.94% of the stock is currently owned by institutional investors and hedge funds.

Sonder Company Profile

Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and business travelers in North America, Europe, and the Middle East.