Sonim Technologies (NASDAQ:SONM) Announces Earnings Results

Sonim Technologies (NASDAQ:SONM) released its quarterly earnings data on Wednesday. The company reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.03), FiscalAI reports.

Sonim Technologies Price Performance

Shares of NASDAQ:SONM traded up $0.18 during midday trading on Wednesday, reaching $4.48. 7,210 shares of the company’s stock were exchanged, compared to its average volume of 49,837. The firm’s 50 day simple moving average is $3.97 and its two-hundred day simple moving average is $5.34. The stock has a market cap of $6.68 million, a price-to-earnings ratio of -0.33 and a beta of 1.93. Sonim Technologies has a fifty-two week low of $2.52 and a fifty-two week high of $38.52.

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd acquired a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies at the end of the most recent quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Sonim Technologies Company Profile

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.