Sonder (NASDAQ:SOND) Trading Up 5.4% – Time to Buy?

Sonder Holdings Inc. (NASDAQ:SOND) shares shot up 5.4% during trading on Wednesday . The stock traded as high as $3.77 and last traded at $3.71. 28,236 shares were traded during trading, a decline of 91% from the average session volume of 300,864 shares. The stock had previously closed at $3.52.

Sonder Trading Up 0.8 %

The stock’s 50 day moving average is $3.89 and its two-hundred day moving average is $4.01. The stock has a market cap of $41.03 million, a price-to-earnings ratio of -0.22 and a beta of 1.58.

Sonder (NASDAQ:SOND) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.94 EPS for the quarter. The firm had revenue of $164.60 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Freestone Capital Holdings LLC acquired a new stake in Sonder during the 1st quarter valued at $44,000. Polar Asset Management Partners Inc. acquired a new position in shares of Sonder in the third quarter worth about $6,786,000. State Street Corp boosted its holdings in Sonder by 28.6% in the third quarter. State Street Corp now owns 36,019 shares of the company’s stock valued at $169,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sonder by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock valued at $478,000 after buying an additional 4,612 shares during the last quarter. Hedge funds and other institutional investors own 45.94% of the company’s stock.

About Sonder

Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and business travelers in North America, Europe, and the Middle East.