Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Up 207.5% in July

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 59,407 shares, an increase of 207.5% from the July 15th total of 19,322 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average trading volume of 15,672 shares, the short-interest ratio is presently 3.8 days.

Sonim Technologies Stock Performance

SONM traded down $0.08 during trading on Thursday, hitting $3.39. The stock had a trading volume of 7,866 shares, compared to its average volume of 41,476. The stock has a 50 day simple moving average of $4.14 and a two-hundred day simple moving average of $4.44. Sonim Technologies has a twelve month low of $2.52 and a twelve month high of $16.97. The company has a market capitalization of $5.05 million, a PE ratio of -0.25 and a beta of 1.86.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($8.15).

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock 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.