SharkNinja, Inc. (NYSE:SN) Sees Large Drop in Short Interest

SharkNinja, Inc. (NYSE:SN) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 2,700,000 shares, a decline of 15.6% from the November 30th total of 3,200,000 shares. Based on an average daily volume of 1,420,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 4.0% of the company’s stock are sold short.

SharkNinja Stock Performance

SharkNinja stock traded up $1.63 during trading hours on Tuesday, hitting $97.36. The stock had a trading volume of 688,904 shares, compared to its average volume of 1,193,527. The company has a 50-day moving average of $100.42 and a two-hundred day moving average of $93.02. 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 has a fifty-two week low of $45.85 and a fifty-two week high of $112.93. The company has a market cap of $13.62 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

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

Institutional Trading of SharkNinja

A number of large investors have recently bought and sold shares of SN. Signaturefd LLC increased its holdings in shares of SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after buying an additional 182 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of SharkNinja in the 3rd quarter worth approximately $54,000. Safe Harbor Fiduciary LLC bought a new stake in SharkNinja during the 3rd quarter worth approximately $54,000. Waldron Private Wealth LLC acquired a new stake in SharkNinja during the 3rd quarter valued at $65,000. Finally, Picton Mahoney Asset Management bought a new position in SharkNinja in the 2nd quarter valued at $70,000. 34.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SN. Morgan Stanley upped their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. decreased their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their target price on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer assumed coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, SharkNinja presently has an average rating of “Moderate Buy” and a consensus price target of $116.39.

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.