SharkNinja, Inc. (NYSE:SN) Short Interest Down 15.6% in December

SharkNinja, Inc. (NYSE:SN) saw a large decline in short interest in the month of 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 currently 1.9 days. Currently, 4.0% of the company’s stock are short sold.

Institutional Investors Weigh In On SharkNinja

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new position in shares of SharkNinja in the third quarter worth about $5,832,000. Milestone Resources Group Ltd acquired a new stake in shares of SharkNinja in the third quarter valued at approximately $11,007,000. Logan Capital Management Inc. acquired a new stake in shares of SharkNinja in the third quarter valued at approximately $2,181,000. Tidal Investments LLC raised its position in SharkNinja by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 19,397 shares of the company’s stock worth $2,109,000 after purchasing an additional 5,416 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in SharkNinja during the 3rd quarter worth $244,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Price Performance

SN stock traded down $1.29 during trading on Friday, hitting $97.25. The company had a trading volume of 522,335 shares, compared to its average volume of 1,197,704. SharkNinja has a fifty-two week low of $45.85 and a fifty-two week high of $112.93. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $100.42 and a two-hundred day moving average price of $92.91. The company has a market cap of $13.61 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.65 and a beta of 1.00.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SN. Oppenheimer began coverage on SharkNinja in a research report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price target on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.39.

About SharkNinja

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.