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

SharkNinja, Inc. (NYSE:SN) was the target of a significant decrease in short interest in 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 short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC increased 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 valued at $1,120,543,000 after acquiring an additional 3,321,684 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in SharkNinja during the 2nd quarter valued at $190,482,000. Baillie Gifford & Co. increased its holdings in shares of 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. Westfield Capital Management Co. LP purchased a new position in shares of SharkNinja in the third quarter worth $114,878,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after purchasing an additional 380,926 shares during the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Stock Performance

SharkNinja stock opened at $97.25 on Monday. SharkNinja has a twelve month low of $45.85 and a twelve month high of $112.93. 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 company has a market capitalization of $13.61 billion, a P/E ratio of 38.14, a PEG ratio of 1.65 and a beta of 1.00. The stock’s 50 day moving average is $100.42 and its 200 day moving average is $93.02.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The firm had revenue of $1.43 billion for 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 quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that SharkNinja will post 3.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SN has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Guggenheim upped their target price on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Oppenheimer initiated coverage on SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, SharkNinja currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.39.

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.