Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Declines By 70.5%

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 15,981 shares, a decline of 70.5% from the June 15th total of 54,245 shares. Based on an average daily trading volume, of 18,228 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.1% of the shares of the stock are sold short.

Sonim Technologies Stock Performance

Sonim Technologies stock traded up $0.29 during mid-day trading on Monday, hitting $4.34. The company’s stock had a trading volume of 18,089 shares, compared to its average volume of 45,179. The company has a 50 day moving average of $4.72 and a 200-day moving average of $4.50. Sonim Technologies has a one year low of $2.52 and a one year high of $16.97. The stock has a market cap of $6.46 million, a PE ratio of -0.32 and a beta of 1.81.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Wednesday, April 15th. The company reported ($9.44) earnings per share for the quarter.

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new position in Sonim Technologies, Inc. (NASDAQ:SONM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Sonim Technologies Company Profile

Sonim Technologies, Inc (NASDAQ: SONM) is a specialty device manufacturer focused on mission-critical communications. The company designs, develops and markets ultra-rugged mobile handsets, push-to-talk (PTT) devices, accessories and supporting software platforms for customers operating in the most demanding environments. Sonim’s product line emphasizes durability, extended battery life and secure connectivity, tailored to industries where reliable voice and data services are essential.

At the core of Sonim’s offering are its hardened smartphones and PTT devices, engineered to meet or exceed military- and industrial-grade specifications for shock, water, dust and temperature resistance.