Sonder (NASDAQ:SOND) Stock Price Down 0.3% – Time to Sell?

Sonder Holdings Inc. (NASDAQ:SOND)’s stock price was down 0.3% on Monday . The stock traded as low as $2.90 and last traded at $3.08. Approximately 27,425 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 34,777 shares. The stock had previously closed at $3.09.

Sonder Stock Performance

The company’s fifty day moving average is $3.41 and its 200-day moving average is $3.89. The company has a market capitalization of $34.06 million, a PE ratio of -0.19 and a beta of 1.75.

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 firm had revenue of $164.60 million during the quarter.

Institutional Investors Weigh In On Sonder

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOND. State Street Corp increased its holdings in Sonder by 28.6% in the 3rd quarter. State Street Corp now owns 36,019 shares of the company’s stock worth $169,000 after acquiring an additional 8,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Sonder by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock valued at $478,000 after buying an additional 4,612 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in Sonder during the 3rd quarter valued at approximately $6,786,000. 45.94% of the stock is owned by hedge funds and other institutional investors.

Sonder Company Profile

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.