Sonim Technologies (NASDAQ:SONM) Trading 4% Higher – Here’s What Happened

Sonim Technologies, Inc. (NASDAQ:SONM) traded up 4% during trading on Wednesday . The company traded as high as $5.30 and last traded at $5.3540. 3,589 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 17,079 shares. The stock had previously closed at $5.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 MarketBeat, the company has an average rating of “Sell”.

Sonim Technologies Stock Up 4.0%

The stock has a fifty day simple moving average of $4.75 and a 200-day simple moving average of $4.57. The company has a market capitalization of $7.98 million, a P/E ratio of -0.40 and a beta of 1.80.

Sonim Technologies (NASDAQ:SONM) last announced its earnings results on Wednesday, April 15th. The company reported ($9.44) earnings per share (EPS) 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 purchased a new stake in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 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.

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.