Sonova (OTCMKTS:SONVY) Shares Gap Up – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) gapped up before the market opened on Monday . The stock had previously closed at $44.77, but opened at $48.34. Sonova shares last traded at $49.23, with a volume of 1,449 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SONVY. Zacks Research raised Sonova from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. BNP Paribas Exane raised Sonova from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Citigroup reissued a “sell” rating on shares of Sonova in a report on Wednesday. Finally, Jefferies Financial Group downgraded Sonova from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sonova has a consensus rating of “Hold”.

Sonova Trading Up 7.9%

The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $45.98 and a 200-day simple moving average of $50.05.

About Sonova

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.