Sonim Technologies Inc (NASDAQ:SONM)’s stock price shot up 19.3% during trading on Tuesday . The stock traded as high as $8.94 and last traded at $8.84, 187,716 shares changed hands during mid-day trading. An increase of 31% from the average session volume of 143,251 shares. The stock had previously closed at $7.41.

Several research firms have commented on SONM. National Securities raised shares of Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday, July 9th. Oppenheimer began coverage on shares of Sonim Technologies in a report on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 price target on the stock. CIBC initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 price objective for the company. Lake Street Capital initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, B. Riley initiated coverage on shares of Sonim Technologies in a research report on Thursday, July 18th. They issued a “buy” rating and a $17.00 price objective for the company. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $17.80.

The firm has a 50-day moving average price of $11.80. The company has a debt-to-equity ratio of 21.31, a quick ratio of 0.63 and a current ratio of 1.24.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Monday, June 24th. The company reported ($0.39) earnings per share for the quarter. The business had revenue of $26.48 million for the quarter. Research analysts expect that Sonim Technologies Inc will post -0.16 earnings per share for the current fiscal year.

In other Sonim Technologies news, CEO Robert Plaschke sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.23, for a total value of $306,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Kneuer acquired 3,147 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $16.98 per share, with a total value of $53,436.06. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SONM. Calamos Advisors LLC purchased a new stake in Sonim Technologies in the second quarter valued at $1,160,000. Wasatch Advisors Inc. purchased a new stake in Sonim Technologies in the second quarter valued at $8,113,000. Russell Investments Group Ltd. purchased a new stake in Sonim Technologies in the second quarter valued at $1,210,000. B. Riley Financial Inc. purchased a new stake in Sonim Technologies in the second quarter valued at $28,168,000. Finally, Northern Trust Corp purchased a new stake in shares of Sonim Technologies during the 2nd quarter worth about $255,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Sonim Technologies Company Profile (NASDAQ:SONM)

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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