Sonder (NASDAQ:SOND) Stock Price Down 1% – Here’s What Happened

Shares of Sonder Holdings Inc. (NASDAQ:SOND) fell 1% during mid-day trading on Wednesday . The stock traded as low as $2.01 and last traded at $2.06. 36,404 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 54,741 shares. The stock had previously closed at $2.08.

Sonder Price Performance

The company has a market capitalization of $27.42 million, a P/E ratio of -0.14 and a beta of 1.85. The firm has a fifty day moving average price of $2.22 and a 200-day moving average price of $2.37.

Sonder (NASDAQ:SOND) last posted its earnings results on Wednesday, July 23rd. The company reported $4.55 earnings per share (EPS) for the quarter. The company had revenue of $161.08 million for the quarter.

Institutional Investors Weigh In On Sonder

A number of large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new stake in shares of Sonder in the fourth quarter worth about $54,000. Northern Trust Corp boosted its holdings in Sonder by 44.7% in the 4th quarter. Northern Trust Corp now owns 43,492 shares of the company’s stock worth $138,000 after buying an additional 13,445 shares during the period. Geode Capital Management LLC lifted its stake in Sonder by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 106,039 shares of the company’s stock worth $337,000 after purchasing an additional 3,897 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its position in shares of Sonder by 244.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 5,000,000 shares of the company’s stock valued at $15,900,000 after buying an additional 3,550,000 shares in the last quarter. Hedge funds and other institutional investors own 45.94% of the company’s stock.

About Sonder

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.