Sonder (NASDAQ:SOND) Trading Up 5.4% – Here’s Why

Shares of Sonder Holdings Inc. (NASDAQ:SOND) were up 5.4% on Wednesday . The company traded as high as $3.77 and last traded at $3.71. Approximately 28,236 shares traded hands during trading, a decline of 91% from the average daily volume of 300,864 shares. The stock had previously closed at $3.52.

Sonder Stock Performance

The business has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $4.01. The stock has a market capitalization of $41.05 million, a price-to-earnings ratio of -0.22 and a beta of 1.58.

Sonder (NASDAQ:SOND) last released its earnings results on Monday, November 4th. The company reported $2.94 earnings per share (EPS) for the quarter. The company had revenue of $164.60 million for the quarter.

Institutional Investors Weigh In On Sonder

Several large investors have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC bought a new position in shares of Sonder in the first quarter valued at approximately $44,000. State Street Corp lifted its holdings in shares of Sonder by 28.6% in the third quarter. State Street Corp now owns 36,019 shares of the company’s stock valued at $169,000 after purchasing an additional 8,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sonder by 4.7% in the third quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock valued at $478,000 after purchasing an additional 4,612 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Sonder in the third quarter valued at approximately $6,786,000. Institutional investors and hedge funds own 45.94% of the company’s stock.

About Sonder

Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and business travelers in North America, Europe, and the Middle East.