Sonim Technologies (NASDAQ:SONM) Shares Climb 2.4% – Should You Buy?

Shares of Sonim Technologies, Inc. (NASDAQ:SONM) shot up 2.4% during mid-day trading on Monday. The company traded as high as $3.42 and last traded at $3.3490. Approximately 6,931 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 19,790 shares. The stock had previously closed at $3.27.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Sonim Technologies from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

Sonim Technologies Trading Up 4.4%

The stock’s fifty day moving average price is $3.49 and its 200-day moving average price is $3.95. The firm has a market cap of $4.80 million, a price-to-earnings ratio of -0.40 and a beta of 1.70.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $5.22 by ($6.27).

About Sonim Technologies

Sonim Technologies, Inc develops and sells rugged mobile devices and accessories designed for workers and organizations operating in demanding environments. Its products are built to withstand exposure to water, dust, drops and extreme temperatures, and are intended for use in industries such as construction, manufacturing, transportation, utilities, public safety, government and healthcare.

The company’s product portfolio has included rugged smartphones, feature phones, broadband devices and related accessories, including protective cases, charging solutions, headsets and remote speaker microphones.