Sandisk's (SNDK) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Sandisk's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, highlighting concerns about the company's performance.
• Despite the negative rating from Weiss, several analysts have given Sandisk "buy" ratings, with price targets varying significantly from $50.00 to $125.00.
• The company's shares have experienced significant volatility, with a 1-year low of $27.89 and a high of $137.05, currently trading at around $131.88.

Sandisk (NASDAQ:SNDK - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on SNDK. Cantor Fitzgerald reissued an "overweight" rating and issued a $50.00 price objective on shares of Sandisk in a research note on Friday, August 15th. Benchmark increased their price objective on Sandisk from $85.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. The Goldman Sachs Group began coverage on Sandisk in a research note on Thursday, July 10th. They issued a "buy" rating and a $55.00 price objective for the company. Bank of America increased their price objective on Sandisk from $59.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Finally, Zacks Research downgraded Sandisk from a "hold" rating to a "strong sell" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.50.

Sandisk Trading Up 9.0%

Shares of NASDAQ:SNDK opened at $131.88 on Wednesday. Sandisk has a 1 year low of $27.89 and a 1 year high of $137.05. The company has a current ratio of 3.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.20. The business's 50 day moving average price is $71.03 and its 200-day moving average price is $51.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNDK. Corient Private Wealth LLC purchased a new position in shares of Sandisk during the 2nd quarter worth $353,000. Osaic Holdings Inc. purchased a new position in shares of Sandisk during the 2nd quarter worth $317,000. Praxis Investment Management Inc. purchased a new position in shares of Sandisk during the 3rd quarter worth $533,000. Finally, GAMMA Investing LLC purchased a new position in shares of Sandisk during the 3rd quarter worth $439,000.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components.

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