Snap One (NASDAQ:SNPO) Shares Gap Up to $8.14

Snap One Holdings Corp. (NASDAQ:SNPO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $8.14, but opened at $10.62. Snap One shares last traded at $10.72, with a volume of 539,297 shares trading hands.

Analyst Ratings Changes

SNPO has been the subject of several analyst reports. William Blair cut Snap One from an “outperform” rating to a “market perform” rating in a report on Monday. Truist Financial reissued a “hold” rating and issued a $10.75 price objective (down previously from $12.00) on shares of Snap One in a report on Tuesday. UBS Group decreased their price objective on Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.75 price objective (down previously from $11.00) on shares of Snap One in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.13.

Snap One Price Performance

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 business has a fifty day moving average of $8.42 and a two-hundred day moving average of $8.32.

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

Hedge Funds Weigh In On Snap One

A number of large investors have recently bought and sold shares of SNPO. Vanguard Group Inc. raised its holdings in shares of Snap One by 29.6% during the first quarter. Vanguard Group Inc. now owns 895,348 shares of the company’s stock valued at $13,206,000 after acquiring an additional 204,692 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Snap One by 20.8% during the first quarter. BlackRock Inc. now owns 900,656 shares of the company’s stock valued at $13,283,000 after acquiring an additional 154,841 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Snap One during the second quarter valued at approximately $475,000. Credit Suisse AG acquired a new position in shares of Snap One during the second quarter valued at approximately $357,000. Finally, State Street Corp raised its holdings in shares of Snap One by 8.4% during the first quarter. State Street Corp now owns 381,258 shares of the company’s stock valued at $5,624,000 after acquiring an additional 29,596 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Snap One Company Profile

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.