Short Interest in SharkNinja, Inc. (NYSE:SN) Drops By 17.5%

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in SharkNinja by 104.6% during the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares in the last quarter. Hollencrest Capital Management purchased a new position in SharkNinja during the third quarter valued at 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 purchased a new position in shares of SharkNinja during the 3rd quarter valued at $65,000. Finally, Picton Mahoney Asset Management bought a new position in shares of SharkNinja in the second quarter worth $70,000. 34.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Guggenheim boosted their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut 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. Morgan Stanley increased their target price on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer started coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective on the stock. 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, SharkNinja has a consensus rating of “Moderate Buy” and a consensus target price of $116.39.

SharkNinja Stock Performance

SN stock traded down $1.37 during midday trading on Friday, hitting $99.67. The company’s stock had a trading volume of 634,062 shares, compared to its average volume of 1,163,628. SharkNinja has a 1 year low of $45.85 and a 1 year high of $112.93. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 1.65 and a beta of 1.00. The stock’s 50-day moving average price is $102.48 and its 200 day moving average price is $91.43. 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 earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The company’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. On average, equities analysts forecast that SharkNinja will post 3.88 EPS for the current year.

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.