Sonova (OTCMKTS:SONVY) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $47.89 and traded as high as $51.21. Sonova shares last traded at $50.58, with a volume of 11,683 shares.

Wall Street Analysts Forecast Growth

SONVY has been the subject of several recent analyst reports. Jefferies Financial Group lowered shares of Sonova from a “hold” rating to a “moderate sell” rating in a report on Wednesday, March 18th. BNP Paribas Exane raised shares of Sonova from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Citigroup reissued a “sell” rating on shares of Sonova in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sonova presently has an average rating of “Hold”.

Sonova Stock Down 2.0%

The stock’s fifty day moving average price is $47.89 and its 200-day moving average price is $49.95. The company has a current ratio of 1.75, a quick ratio of 0.91 and a debt-to-equity ratio of 0.51.

About Sonova

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.