Snap One (NASDAQ:SNPO) Sees Unusually-High Trading Volume

Shares of Snap One Holdings Corp. (NASDAQ:SNPO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 567,345 shares changed hands during mid-day trading, an increase of 501% from the previous session's volume of 94,341 shares.The stock last traded at $10.56 and had previously closed at $10.54.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNPO shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.75 target price (down previously from $11.00) on shares of Snap One in a report on Tuesday. UBS Group cut their target price on shares of Snap One from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. William Blair cut shares of Snap One from an "outperform" rating to a "market perform" rating in a report on Monday. Finally, Truist Financial restated a "hold" rating and issued a $10.75 price target (down previously from $12.00) on shares of Snap One in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.13.

Snap One Price Performance

The firm's 50 day simple moving average is $8.42 and its 200 day simple moving average is $8.32. The company has a market cap of $806.73 million, a price-to-earnings ratio of -37.64 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.65.

Snap One (NASDAQ:SNPO - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. The company had revenue of $264.39 million for the quarter, compared to analyst estimates of $267.62 million. Sell-side analysts anticipate that Snap One Holdings Corp. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Snap One by 533.0% during the fourth quarter. Barclays PLC now owns 4,836 shares of the company's stock valued at $35,000 after acquiring an additional 4,072 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Snap One by 411.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the company's stock valued at $55,000 after buying an additional 4,827 shares in the last quarter. UBS Group AG increased its holdings in shares of Snap One by 2,779.6% in the fourth quarter. UBS Group AG now owns 7,890 shares of the company's stock valued at $58,000 after buying an additional 7,616 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Snap One by 1,447.8% in the second quarter. Citigroup Inc. now owns 5,928 shares of the company's stock valued at $69,000 after buying an additional 5,545 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Snap One in the fourth quarter valued at $86,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Snap One Company Profile

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.