Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Update

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 26,029 shares, a drop of 56.2% from the July 30th total of 59,407 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 17,108 shares, the short-interest ratio is presently 1.5 days.

Sonim Technologies Stock Performance

SONM stock traded up $0.01 during midday trading on Monday, hitting $3.48. 3,492 shares of the company’s stock were exchanged, compared to its average volume of 39,063. The stock’s fifty day moving average price is $3.80 and its 200-day moving average price is $4.22. Sonim Technologies has a one year low of $2.52 and a one year high of $16.97. The company has a market cap of $5.18 million, a PE ratio of -0.43 and a beta of 1.86.

Sonim Technologies (NASDAQ:SONM) last announced its earnings results on Wednesday, August 19th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of $5.22 by ($6.27).

Hedge Funds Weigh In On Sonim Technologies

An institutional investor recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 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. 3.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sonim Technologies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus 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.