Sono Group (NASDAQ:SSM) Announces Quarterly Earnings Results

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

Sono Group Stock Performance

Shares of SSM traded up $0.03 during midday trading on Friday, reaching $2.63. 67,729 shares of the stock were exchanged, compared to its average volume of 37,971. The company has a market capitalization of $3.73 million, a P/E ratio of -0.78 and a beta of 9.60. Sono Group has a twelve month low of $2.37 and a twelve month high of $27.73.

Insider Activity at Sono Group

In related news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $3.24, for a total transaction of $65,094.84. Following the transaction, the insider directly owned 157,326 shares of the company’s stock, valued at approximately $509,736.24. This trade 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 is available through the SEC website. Company insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on Sono Group in a research note on Friday, August 7th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Sono Group Company Profile

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.