Sonova (OTCMKTS:SONVY) Shares Pass Below 50-Day Moving Average – Here’s Why

Shares of Sonova Holding AG (OTCMKTS:SONVY) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $69.10 and traded as low as $64.71. Sonova shares last traded at $64.88, with a volume of 15,115 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup upgraded Sonova to a “strong sell” rating in a research report on Thursday, November 21st. The Goldman Sachs Group raised shares of Sonova to a “strong sell” rating in a report on Tuesday, October 22nd. Finally, Barclays cut shares of Sonova from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Sonova Stock Performance

The firm’s 50 day simple moving average is $68.97 and its 200-day simple moving average is $67.59. The company has a current ratio of 1.45, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

Sonova Company Profile

Sonova Holding AG manufactures and sells hearing care solutions for adults and children in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hearing Instruments and Cochlear Implants segments. The Hearing Instruments segments engages in the design, development, manufacture, distribution, and service of hearing instruments and related products, as well as wireless headsets, speech-enhanced hearables, and audiophile headphones under the Phonak, Unitron, Hansaton, and Sennheiser brand names; and audiological care services under the AudioNova, Audium, Audition Santé, Boots Hearingcare, Connect Hearing, Geers, Hansaton, Lapperre, Schoonenberg, and Triton Hearing brands.