Alambic Investment Management L.P. reduced its position in Sonim Technologies Inc (NASDAQ:SONM) by 28.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,231 shares of the company’s stock after selling 48,737 shares during the period. Alambic Investment Management L.P. owned 0.58% of Sonim Technologies worth $84,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Cannell Capital LLC bought a new position in shares of Sonim Technologies during the 4th quarter worth approximately $2,068,000. Vivaldi Asset Management LLC lifted its holdings in shares of Sonim Technologies by 176.1% during the 4th quarter. Vivaldi Asset Management LLC now owns 373,793 shares of the company’s stock valued at $1,357,000 after purchasing an additional 238,397 shares during the last quarter. Private Advisors LLC acquired a new stake in shares of Sonim Technologies in the 4th quarter worth $537,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Sonim Technologies in the 4th quarter worth $286,000. Finally, Oppenheimer & Co. Inc. grew its stake in Sonim Technologies by 107.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 128,099 shares of the company’s stock worth $465,000 after buying an additional 66,308 shares during the last quarter. 42.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on SONM shares. National Securities lowered Sonim Technologies to a “hold” rating and set a $2.50 price target on the stock. in a research note on Wednesday, March 11th. Zacks Investment Research raised shares of Sonim Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Lake Street Capital cut their price target on shares of Sonim Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. B. Riley lowered their price objective on shares of Sonim Technologies from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Sonim Technologies in a research report on Friday, May 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $5.46.
Shares of NASDAQ:SONM traded down $0.04 during midday trading on Friday, reaching $1.02. The company’s stock had a trading volume of 1,827,974 shares, compared to its average volume of 1,954,286. The company has a quick ratio of 0.81, a current ratio of 1.40 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $0.87 and a 200 day moving average of $2.23. Sonim Technologies Inc has a twelve month low of $0.50 and a twelve month high of $18.26. The firm has a market capitalization of $22.06 million and a PE ratio of -0.65.
Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.23). The business had revenue of $12.71 million during the quarter, compared to analysts’ expectations of $18.00 million. Sonim Technologies had a negative net margin of 30.40% and a negative return on equity of 93.18%. Sell-side analysts anticipate that Sonim Technologies Inc will post -1.2 earnings per share for the current fiscal year.
Sonim Technologies Profile
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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