Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Decrease in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 15,981 shares, a decrease of 70.5% from the June 15th total of 54,245 shares. Based on an average daily volume of 18,228 shares, the short-interest ratio is presently 0.9 days. Currently, 1.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd purchased a new position in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned 0.14% of Sonim Technologies at the end of the most recent quarter. Institutional investors own 3.26% of the company’s stock.

Sonim Technologies Trading Up 0.6%

NASDAQ SONM traded up $0.03 on Tuesday, hitting $4.37. 2,217 shares of the company’s stock traded hands, compared to its average volume of 44,850. The firm’s 50-day moving average price is $4.70 and its two-hundred day moving average price is $4.49. The firm has a market capitalization of $6.50 million, a PE ratio of -0.33 and a beta of 1.81. Sonim Technologies has a 1-year low of $2.52 and a 1-year high of $16.97.

Sonim Technologies (NASDAQ:SONM) last issued its earnings results on Wednesday, April 15th. The company reported ($9.44) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Sonim Technologies

Sonim Technologies, Inc (NASDAQ: SONM) is a specialty device manufacturer focused on mission-critical communications. The company designs, develops and markets ultra-rugged mobile handsets, push-to-talk (PTT) devices, accessories and supporting software platforms for customers operating in the most demanding environments. Sonim’s product line emphasizes durability, extended battery life and secure connectivity, tailored to industries where reliable voice and data services are essential.

At the core of Sonim’s offering are its hardened smartphones and PTT devices, engineered to meet or exceed military- and industrial-grade specifications for shock, water, dust and temperature resistance.