SharkNinja, Inc. (NYSE:SN) Short Interest Update

SharkNinja, Inc. (NYSE:SN) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,200,000 shares, a drop of 17.5% from the November 15th total of 3,880,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the short-interest ratio is currently 2.2 days. Approximately 4.7% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SN. Jefferies Financial Group lifted their target price on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer assumed coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group raised their price target on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Stock Down 1.4 %

SharkNinja stock traded down $1.37 during midday trading on Friday, hitting $99.67. 634,062 shares of the stock were exchanged, compared to its average volume of 1,208,619. SharkNinja has a 52-week low of $45.85 and a 52-week high of $112.93. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00. The business’s 50-day moving average price is $102.48 and its 200-day moving average price is $91.31. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.17. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, research analysts expect that SharkNinja will post 3.88 EPS for the current fiscal year.

Institutional Trading of SharkNinja

Hedge funds have recently added to or reduced their stakes in the stock. abrdn plc raised its position in SharkNinja by 17.8% in the third quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after acquiring an additional 63,299 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of SharkNinja in the third quarter valued at approximately $11,942,000. Advisors Asset Management Inc. raised its position in shares of SharkNinja by 50.6% in the third quarter. Advisors Asset Management Inc. now owns 19,817 shares of the company’s stock valued at $2,154,000 after purchasing an additional 6,662 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of SharkNinja by 1,218.0% in the third quarter. Harbor Capital Advisors Inc. now owns 89,967 shares of the company’s stock valued at $9,780,000 after purchasing an additional 83,141 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of SharkNinja in the third quarter valued at approximately $23,874,000. Institutional investors own 34.77% of the company’s stock.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.