Snap One (NASDAQ:SNPO) Stock Price Down 4.1%

Snap One Holdings Corp. (NASDAQ:SNPO)’s stock price traded down 4.1% during trading on Friday . The stock traded as low as $8.43 and last traded at $8.43. 865 shares traded hands during trading, a decline of 97% from the average session volume of 32,554 shares. The stock had previously closed at $8.79.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price objective on shares of Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th.

Snap One Stock Down 7.4 %

The company’s 50 day moving average price is $8.32 and its 200 day moving average price is $8.30. The company has a quick ratio of 0.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $623.00 million, a price-to-earnings ratio of -29.07 and a beta of 1.27.

Snap One (NASDAQ:SNPO) last posted its earnings results on Thursday, March 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $264.39 million during the quarter, compared to the consensus estimate of $267.62 million. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. As a group, research analysts forecast that Snap One Holdings Corp. will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in Snap One by 7.5% in the first quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $530,000 after buying an additional 2,500 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Snap One by 41.8% in the first quarter. JPMorgan Chase & Co. now owns 12,268 shares of the company’s stock valued at $181,000 after buying an additional 3,618 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Snap One by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 46,982 shares of the company’s stock valued at $693,000 after buying an additional 7,646 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Snap One by 57.0% in the first quarter. MetLife Investment Management LLC now owns 9,186 shares of the company’s stock valued at $135,000 after buying an additional 3,335 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Snap One in the first quarter valued at $200,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.