Sonova (OTCMKTS:SONVY) Shares Up 8.9% – Here’s Why

Sonova Holding (OTCMKTS:SONVY) shares shot up 8.9% on Tuesday . The company traded as high as $49.68 and last traded at $49.43. 820 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 41,011 shares. The stock had previously closed at $45.39.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SONVY shares. Citigroup reiterated a “sell” rating on shares of Sonova in a report on Wednesday, May 13th. Zacks Research upgraded shares of Sonova from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. BNP Paribas Exane upgraded shares of Sonova from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group lowered shares of Sonova from a “hold” rating to a “moderate sell” rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Sonova presently has a consensus rating of “Hold”.

Sonova Stock Performance

The stock’s 50-day moving average price is $45.97 and its 200-day moving average price is $50.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.91.

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.