Sono Group N.V. (NASDAQ:SSM) Short Interest Down 59.3% in August

Sono Group N.V. (NASDAQ:SSM) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 27,729 shares, a decline of 59.3% from the August 15th total of 68,106 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 709,421 shares, the short-interest ratio is presently 0.0 days.

Sono Group Stock Performance

SSM stock opened at $2.11 on Friday. The company has a market cap of $3.01 million, a P/E ratio of -0.40 and a beta of 9.46. Sono Group has a fifty-two week low of $1.83 and a fifty-two week high of $10.75.

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

Insider Activity at Sono Group

In other news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $3.24, for a total transaction of $65,094.84. Following the sale, the insider owned 157,326 shares of the company’s stock, valued at approximately $509,736.24. This represents a 11.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 35,501 shares of company stock valued at $118,426 in the last three months. Insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently 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.