Sonder Holdings Inc. (NASDAQ:SOND) Sees Significant Increase in Short Interest

Sonder Holdings Inc. (NASDAQ:SOND) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,200,000 shares, an increase of 20.5% from the March 15th total of 996,200 shares. Based on an average daily volume of 36,100 shares, the short-interest ratio is currently 33.2 days. Currently, 15.6% of the company’s stock are short sold.

Institutional Investors Weigh In On Sonder

Hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new position in Sonder in the fourth quarter valued at about $54,000. State Street Corp grew its position in shares of 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 buying an additional 8,000 shares during the last quarter. Northern Trust Corp grew its position in shares of Sonder by 44.7% in the 4th quarter. Northern Trust Corp now owns 43,492 shares of the company’s stock worth $138,000 after buying an additional 13,445 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sonder by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 102,142 shares of the company’s stock worth $478,000 after acquiring an additional 4,612 shares in the last quarter. Finally, Polar Asset Management Partners Inc. lifted its position in Sonder by 244.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 5,000,000 shares of the company’s stock valued at $15,900,000 after acquiring an additional 3,550,000 shares during the last quarter. 45.94% of the stock is currently owned by hedge funds and other institutional investors.

Sonder Price Performance

SOND stock opened at $2.34 on Tuesday. Sonder has a 1-year low of $0.88 and a 1-year high of $10.50. The business has a 50-day moving average price of $2.37 and a 200 day moving average price of $3.03. The company has a market capitalization of $25.89 million, a P/E ratio of -0.08 and a beta of 1.85.

Sonder (NASDAQ:SOND) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($17.82) earnings per share for the quarter.

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.