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Friday, September 29, 2023

Insights Into Sovos Brands Inc. (SOVO) Exposure By Institutions

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Sovos Brands Inc. (SOVO) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.0607, or -0.27%, to $22.4093. The Sovos Brands Inc. has recorded 12,725 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Sovos Brands Reports Second Quarter 2023 Financial Results.

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Stocks Info

Sovos Brands Inc. is listed on the NASDAQ in the Consumer Defensive sector while operating in the Packaged Foods industry. At the end of the last regular session, the stock closed at $22.47 and fluctuated between $22.65 as its day high and $22.46 as its day low. The current market capitalization of Sovos Brands Inc. is $2.27B. A total of 2.68 million shares were traded on the day, compared to an average of 1.14M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, SOVO has seen 0 BUY and 8 SELL insider trades, representing the acquisition of 0 and the disposition of 225,000 shares. Over the last 12 months, there were 13 BUYs and 56 SELLs from insiders. Insiders purchased 172,074 shares during that period but sold 55,751,751.

In the most recent transaction, LACHMAN TODD R sold 45,000 shares of SOVO for 22.53 per share on Aug 28. After the transaction, the PRESIDENT AND CEO now owns 1,984,761 company shares. In a previous transaction on Aug 28, LACHMAN TODD R sold 11,250 shares at 22.54 per share. SOVO shares that PRESIDENT AND CEO owns now total 336,078.

Among the insiders who sold shares, LACHMAN TODD R disposed of 45,000 shares on Aug 14 at a per-share price of $22.55. This resulted in the PRESIDENT AND CEO holding 2,029,761 shares of SOVO after the transaction. In another insider transaction, LACHMAN TODD R sold 11,250 shares at $22.55 per share on Aug 14. Company shares held by the PRESIDENT AND CEO now total 347,328.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for SOVO in the last 3 months, the mean price target is $23.00 with high estimates of $23.00 and low estimates of $23.00. In terms of 52-week highs and lows, SOVO has a high of $22.65 and a low of $12.74.

As of this writing, SOVO has an earnings estimate of $0.15 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of $0.18 per share and a lower estimate of $0.11. The company reported an EPS of $0.18 in the last quarter, which was 20.00% higher than expectations of $0.15.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. SOVO’s latest balance sheet shows that the firm has $66.15M in Cash & Short Term Investments as of fiscal 2021. There were $502.04M in debt and $92.33M in liabilities at the time. Its Book Value Per Share was $4.95, while its Total Shareholder’s Equity was $509.49M.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SOVO is Buy with a score of 3.55.

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