Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Growth in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 50,557 shares, a growth of 36.8% from the February 12th total of 36,965 shares. Based on an average daily trading volume, of 58,898 shares, the short-interest ratio is currently 0.9 days. Approximately 5.1% of the company’s shares are sold short. Approximately 5.1% of the company’s shares are sold short. Based on an average daily trading volume, of 58,898 shares, the short-interest ratio is currently 0.9 days.

Sonim Technologies Price Performance

NASDAQ SONM traded up $0.03 during mid-day trading on Monday, reaching $4.46. 2,556 shares of the stock were exchanged, compared to its average volume of 52,098. The stock has a market cap of $4.59 million, a P/E ratio of -0.33 and a beta of 1.60. Sonim Technologies has a one year low of $2.52 and a one year high of $61.00. The stock has a 50 day simple moving average of $5.07 and a 200-day simple moving average of $7.89.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About Sonim Technologies

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.