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

SharkNinja, Inc. (NYSE:SN) saw a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 2,930,000 shares, a decrease of 17.5% from the January 31st total of 3,550,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 4.2% of the shares of the company are sold short.

SharkNinja Price Performance

NYSE SN traded up $1.59 on Wednesday, hitting $96.04. 1,281,857 shares of the company’s stock were exchanged, compared to its average volume of 1,164,032. The stock has a 50-day moving average of $106.45 and a 200-day moving average of $102.90. The stock has a market cap of $13.44 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 2.35 and a beta of 1.13. SharkNinja has a 52 week low of $54.54 and a 52 week high of $123.00. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38.

SharkNinja (NYSE:SN) last posted its earnings results on Thursday, February 13th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. Analysts expect that SharkNinja will post 4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SN. Morgan Stanley boosted their price target on SharkNinja from $93.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised their price target on SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Canaccord Genuity Group boosted their price objective on SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their target price on SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, SharkNinja presently has an average rating of “Moderate Buy” and an average target price of $122.50.

Hedge Funds Weigh In On SharkNinja

Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of SharkNinja by 17.8% in the third quarter. State Street Corp now owns 667,003 shares of the company’s stock valued at $72,510,000 after buying an additional 101,020 shares during the period. Tidal Investments LLC increased its position in SharkNinja by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 19,397 shares of the company’s stock valued at $2,109,000 after acquiring an additional 5,416 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of SharkNinja during the third quarter valued at $5,832,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of SharkNinja during the third quarter worth $11,942,000. Finally, Advisors Asset Management Inc. grew its stake in shares of SharkNinja by 50.6% in the third quarter. Advisors Asset Management Inc. now owns 19,817 shares of the company’s stock worth $2,154,000 after purchasing an additional 6,662 shares during the last quarter. 34.77% of the stock is currently owned by institutional investors.

About SharkNinja

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.