SharkNinja, Inc. (NYSE:SN) Short Interest Down 15.6% in December

SharkNinja, Inc. (NYSE:SN) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 2,700,000 shares, a decrease of 15.6% from the November 30th total of 3,200,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 1.9 days. Approximately 4.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SN shares. JPMorgan Chase & Co. dropped their price objective on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Guggenheim increased their price target on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. Morgan Stanley boosted their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Oppenheimer began coverage on SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, SharkNinja has an average rating of “Moderate Buy” and a consensus price target of $116.39.

Hedge Funds Weigh In On SharkNinja

Several hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of SharkNinja by 47.5% during the third quarter. FMR LLC now owns 10,307,632 shares of the company’s stock worth $1,120,543,000 after purchasing an additional 3,321,684 shares during the period. William Blair Investment Management LLC purchased a new position in SharkNinja in the 2nd quarter worth about $190,482,000. Baillie Gifford & Co. increased its stake in SharkNinja by 6,408.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after purchasing an additional 1,797,578 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in SharkNinja by 29.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after buying an additional 380,926 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in SharkNinja during the third quarter valued at about $114,878,000. Institutional investors and hedge funds own 34.77% of the company’s stock.

SharkNinja Stock Performance

NYSE SN traded down $1.29 during trading hours on Friday, hitting $97.25. The company had a trading volume of 522,335 shares, compared to its average volume of 1,197,704. SharkNinja has a fifty-two week low of $45.85 and a fifty-two week high of $112.93. The firm has a market cap of $13.61 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $100.42 and a 200-day simple moving average of $92.91.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.17. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Equities analysts predict that SharkNinja will post 3.88 EPS for the current year.

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.