Insider Selling: Sono Group (NASDAQ:SSM) Major Shareholder Sells $65,094.84 in Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 20,091 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $3.24, for a total value of $65,094.84. Following the completion of the sale, the insider directly owned 157,326 shares of the company’s stock, valued at $509,736.24. The trade was 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 at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Sono Group Trading Up 1.2%

NASDAQ SSM opened at $2.63 on Friday. Sono Group N.V. has a fifty-two week low of $2.37 and a fifty-two week high of $27.73.

Sono Group (NASDAQ:SSM) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a negative return on equity of 50.42% and a net margin of 2,204.17%.

Analyst Upgrades and Downgrades

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

About Sono Group

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.