Sonendo, Inc. (NYSE:SONX) Director Purchases $80,000.00 in Stock

Sonendo, Inc. (NYSE:SONX – Get Rating) Director Vamsi Mohan Raj Pudipeddi acquired 50,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $1.60 per share, with a total value of $80,000.00. Following the transaction, the director now owns 199,182 shares in the company, valued at approximately $318,691.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sonendo Stock Up 11.9 %

NYSE:SONX opened at $1.98 on Friday. The company has a quick ratio of 6.32, a current ratio of 7.24 and a debt-to-equity ratio of 0.45. Sonendo, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $6.84. The firm’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $1.94.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SONX. The Goldman Sachs Group cut their price objective on shares of Sonendo from $2.50 to $2.25 and set a “buy” rating for the company in a research report on Monday, March 13th. Morgan Stanley cut their price objective on shares of Sonendo from $5.75 to $5.50 and set an “equal weight” rating for the company in a research report on Thursday, March 9th.

Hedge Funds Weigh In On Sonendo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of Sonendo during the 4th quarter worth $30,000. HighTower Advisors LLC acquired a new position in Sonendo during the fourth quarter worth about $31,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Sonendo in the fourth quarter valued at about $37,000. Bank of America Corp DE grew its position in shares of Sonendo by 210.6% in the first quarter. Bank of America Corp DE now owns 16,618 shares of the company’s stock valued at $66,000 after purchasing an additional 11,267 shares during the last quarter. Finally, State Street Corp acquired a new stake in shares of Sonendo in the first quarter valued at approximately $83,000. 52.06% of the stock is owned by institutional investors and hedge funds.

About Sonendo

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Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment device for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.