SharkNinja, Inc. (NYSE:SN) Sees Significant Decline in Short Interest

SharkNinja, Inc. (NYSE:SN - Get Free Report) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,570,000 shares, a drop of 20.7% from the March 15th total of 1,980,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.6% of the company's stock are sold short.

SharkNinja Stock Performance

Shares of NYSE:SN traded down 1.24 during trading on Friday, reaching 61.27. The stock had a trading volume of 596,500 shares, compared to its average volume of 1,068,592. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.69. The business has a fifty day moving average price of 56.81 and a 200-day moving average price of 50.26. SharkNinja has a 1-year low of 25.84 and a 1-year high of 65.61.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported 0.94 earnings per share for the quarter, topping analysts' consensus estimates of 0.86 by 0.08. The company had revenue of 1.38 billion for the quarter, compared to analyst estimates of 1.31 billion. SharkNinja had a return on equity of 24.71% and a net margin of 3.93%. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities analysts forecast that SharkNinja will post 3.54 EPS for the current year.

Analyst Upgrades and Downgrades

SN has been the subject of several recent analyst reports. Guggenheim began coverage on SharkNinja in a research note on Monday, February 5th. They issued a "buy" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. began coverage on SharkNinja in a research note on Thursday, April 4th. They issued an "overweight" rating and a $70.00 price objective for the company. The Goldman Sachs Group raised their price objective on SharkNinja from $52.00 to $59.00 and gave the stock an "action list buy" rating in a research note on Friday, February 16th. Canaccord Genuity Group raised their price objective on SharkNinja from $68.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley began coverage on SharkNinja in a research note on Tuesday, January 30th. They issued an "equal weight" rating and a $54.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of 63.17.

Institutional Investors Weigh In On SharkNinja

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC purchased a new stake in shares of SharkNinja in the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd purchased a new stake in SharkNinja during the 3rd quarter worth about $42,000. Tower Research Capital LLC TRC purchased a new stake in SharkNinja during the 4th quarter worth about $97,000. Counterpoint Mutual Funds LLC purchased a new stake in SharkNinja during the 3rd quarter worth about $141,000. Finally, SG Americas Securities LLC purchased a new stake in SharkNinja during the 3rd quarter worth about $185,000. Hedge funds and other institutional investors own 34.77% of the company's stock.

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.