The share price of Sovos Brands Inc. (NASDAQ:SOVO) rose to $18.71 per share on Thursday from $18.70. While Sovos Brands Inc. has overperformed by 0.05%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SOVO rose by 35.58%, with highs and lows ranging from $20.58 to $12.50, whereas the simple moving average jumped by 26.47% in the last 200 days.
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Analysis of Sovos Brands Inc. (SOVO)
Further, the quarter-over-quarter increase in sales is 20.40%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Sovos Brands Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -10.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SOVO is recording an average volume of 575.04K. On a monthly basis, the volatility of the stock is set at 3.82%, whereas on a weekly basis, it is put at 4.20%, with a gain of 5.95% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.44, showing growth from the present price of $18.71, which can serve as yet another indication of whether SOVO is worth investing in or should be passed over.
How Do You Analyze Sovos Brands Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 92.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SOVO shares?
The recent increase in stakes in SOVO appears to be a result of several institutional investors and hedge funds increasing their positions. Wellington Management Co. LLP’s position in SOVO has decreased by -0.14% in the first quarter. The company now owns 6,209,542 shares of the stock, with a value of $106.49 million, following the sale of -8,590 additional shares during the last quarter. Capital Research & Management Co made another increased to its shares in SOVO during the first quarter, upping its stake by 1.14%. During the last quarter, the company picked up 60,583 additional shares for a total stake of worth $91.89 million, bringing number of shares owned by the company to 5,357,932.
During the first quarter, The Vanguard Group, Inc. added a 31,400 position in SOVO. Champlain Investment Partners LLC purchased an additional 0.69 million shares in the last quarter, increasing its holdings by 29.49%, now holding 3.01 million shares worth $51.65 million. At the end of the first quarter, BlackRock Fund Advisors increased its SOVO holdings by 10.39% and now holds 2.5 million SOVO shares valued at $42.9 million with the added 0.24 million shares during the period. SOVO shares are owned by institutional investors to the tune of 92.40% at present.
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