Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Decreases By 34.9%

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 735,900 shares, a decline of 34.9% from the September 30th total of 1,130,000 shares. Based on an average daily volume of 849,100 shares, the short-interest ratio is presently 0.9 days. Approximately 5.5% of the company’s stock are sold short. Approximately 5.5% of the company’s stock are sold short. Based on an average daily volume of 849,100 shares, the short-interest ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Sonim Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Sonim Technologies Price Performance

Shares of NASDAQ:SONM traded down $0.14 during midday trading on Monday, hitting $11.46. 30,909 shares of the company’s stock were exchanged, compared to its average volume of 92,924. Sonim Technologies has a 12 month low of $9.38 and a 12 month high of $114.84. The stock has a 50 day moving average price of $11.84 and a 200-day moving average price of $15.84. The company has a market cap of $11.33 million, a PE ratio of -10.91 and a beta of 1.89.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Friday, October 31st. The company reported ($3.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.40 by ($9.26). Sonim Technologies had a negative return on equity of 1,627.75% and a negative net margin of 56.48%.The firm had revenue of $16.21 million during the quarter. On average, analysts anticipate that Sonim Technologies will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd acquired a new position in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies as of its most recent filing with the Securities and Exchange Commission. 3.26% of the stock is owned by hedge funds and other institutional investors.

Sonim Technologies Company Profile

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, Sonim XP3plus, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.