255 V. Ug Haftungsbes Bambino Sells 11,410 Shares of Sono Group (NASDAQ:SSM) Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 11,410 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $3.71, for a total value of $42,331.10. Following the completion of the transaction, the insider owned 141,916 shares in the company, valued at $526,508.36. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Sono Group Stock Down 11.4%

Shares of SSM opened at $3.10 on Friday. Sono Group N.V. has a 12-month low of $2.35 and a 12-month high of $27.73. The stock has a market cap of $4.40 million, a PE ratio of -0.58 and a beta of 9.46.

Sono Group (NASDAQ:SSM) last announced its earnings results on Friday, August 14th. The company reported ($1.59) earnings per share for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.