Satellite radio provider Sirius XM (NASDAQ:SIRI) had been one of the major movers earlier on this year in May and in the early part of June. As a matter of fact, in the early days of June, it had even hit its highest level in 52 weeks of $8 a share.
That proved to be the last time the stock had a strong performance since soon enough there was a bout of profit taking and the Sirius XM stock declined steadily. In recent times, there has been not a lot of new about the company and the stock has also traded within a range.
However, despite the current situation, there are some things that investors need to keep in mind when it comes to the Sirius stock. Experts believe that the current Price to Sales ratio of the company’s stock of 3.5 is expected to be revised in the medium term and go closer to the ratios that had been recorded by the company in the past. In addition to that, the automobile industry has also seen fresh momentum as it tries to rebound and that could also prove to be a positive headwind for Sirius.
