SORNU’s (NASDAQ:SORNU) Quiet Period Will Expire on February 16th

SORNU’s (NASDAQ:SORNU) quiet period is set to end on Monday, February 16th. SORNU had issued 22,000,000 shares in its initial public offering on January 7th. The total size of the offering was $220,000,000 based on an initial share price of $10.00. During SORNU’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of SORNU to a “hold” rating in a research note on Thursday, January 15th.

SORNU Stock Performance

SORNU stock opened at $10.00 on Monday. SORNU has a 52 week low of $9.95 and a 52 week high of $10.01.