Sonendo (NYSE:SONX) Stock Price Down 60% – Here’s What Happened

Sonendo, Inc. (NYSE:SONX) dropped 60% during mid-day trading on Friday . The stock traded as low as $2.00 and last traded at $2.00. Approximately 2,423 shares were traded during trading, a decline of 99% from the average daily volume of 334,651 shares. The stock had previously closed at $5.00.

Sonendo Price Performance

The business’s 50 day simple moving average is $0.05 and its 200-day simple moving average is $0.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.73 and a current ratio of 2.40. The stock has a market capitalization of $167.22 million, a price-to-earnings ratio of -4.44 and a beta of 1.47.

Sonendo (NYSE:SONX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. The company had revenue of $8.31 million for the quarter, compared to the consensus estimate of $7.60 million. Sonendo had a negative net margin of 112.08% and a negative return on equity of 160.87%. Research analysts anticipate that Sonendo, Inc. will post -0.47 earnings per share for the current year.

About Sonendo

Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment, a technology platform designed for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.