Short Interest in SharkNinja, Inc. (NYSE:SN) Declines By 38.0%

SharkNinja, Inc. (NYSE:SN) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,730,000 shares, a decline of 38.0% from the September 15th total of 4,400,000 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 2.1 days.

Hedge Funds Weigh In On SharkNinja

A number of hedge funds and other institutional investors have recently modified their holdings of SN. Picton Mahoney Asset Management bought a new stake in SharkNinja during the 2nd quarter valued at $70,000. Headlands Technologies LLC purchased a new stake in shares of SharkNinja during the first quarter worth about $66,000. Kessler Investment Group LLC purchased a new stake in shares of SharkNinja during the second quarter worth about $125,000. Magnetar Financial LLC bought a new stake in shares of SharkNinja in the second quarter worth about $233,000. Finally, Essex LLC purchased a new position in SharkNinja during the 1st quarter valued at about $204,000. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

SharkNinja Trading Up 0.1 %

Shares of SN stock opened at $107.38 on Monday. The company has a market capitalization of $15.03 billion, a PE ratio of 61.67, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. SharkNinja has a 52-week low of $38.69 and a 52-week high of $110.96. The business’s fifty day moving average is $97.40 and its 200 day moving average is $80.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.14. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts anticipate that SharkNinja will post 3.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Bank of America boosted their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Oppenheimer began coverage on shares of SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 target price on the stock. Finally, Guggenheim raised their price target on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, SharkNinja presently has an average rating of “Moderate Buy” and an average target price of $97.94.

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.