Sonim Technologies (NASDAQ:SONM) Shares Up 5.7%

Sonim Technologies Inc (NASDAQ:SONM) shot up 5.7% during trading on Thursday . The stock traded as high as $2.45 and last traded at $2.42, 519,500 shares were traded during mid-day trading. An increase of 214% from the average session volume of 165,538 shares. The stock had previously closed at $2.29.

Several research firms have recently commented on SONM. ValuEngine raised Sonim Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. B. Riley cut their price objective on Sonim Technologies from $18.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Oppenheimer downgraded Sonim Technologies from an “outperform” rating to a “market perform” rating and set a $6.00 price objective for the company. in a report on Thursday, October 31st. UBS Group reissued an “outperform” rating and issued a $6.00 price objective (down previously from $18.00) on shares of Sonim Technologies in a report on Wednesday, September 11th. Finally, Zacks Investment Research raised Sonim Technologies from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $11.64.

The company has a quick ratio of 1.38, a current ratio of 2.22 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $2.51 and a 200 day moving average price of $7.63.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The firm had revenue of $28.85 million during the quarter, compared to the consensus estimate of $31.25 million. Analysts forecast that Sonim Technologies Inc will post -0.63 earnings per share for the current year.

In other Sonim Technologies news, major shareholder Brc Partners Opportunity Fund, purchased 25,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $2.23 per share, with a total value of $56,865.00.

Institutional investors have recently made changes to their positions in the business. Calamos Advisors LLC acquired a new stake in Sonim Technologies during the 2nd quarter valued at $1,160,000. Oppenheimer & Co. Inc. acquired a new stake in Sonim Technologies during the 3rd quarter valued at $181,000. BlackRock Inc. acquired a new stake in Sonim Technologies during the 2nd quarter valued at $2,083,000. B. Riley Financial Inc. acquired a new stake in Sonim Technologies during the 2nd quarter valued at $28,168,000. Finally, Northern Trust Corp acquired a new stake in Sonim Technologies during the 2nd quarter valued at $255,000. 39.86% of the stock is owned by institutional investors and hedge funds.

Sonim Technologies Company Profile (NASDAQ:SONM)

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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