Sonim Technologies, Inc. (NASDAQ:SONM) Shares Shorted: Short Interest Down 38.5% in October

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 10,815 shares, a drop of 38.5% from the September 30th total of 17,581 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 9,016 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

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

Sonim Technologies Stock Down 1.4%

Sonim Technologies stock opened at $2.73 on Friday. The stock has a market cap of $4.07 million, a PE ratio of -0.34 and a beta of 1.70. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $11.90. The business’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $4.17.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Wednesday, August 19th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($6.27).

About Sonim Technologies

Sonim Technologies, Inc develops and supplies rugged mobile devices and accessories designed for demanding work environments. Its products are built for use in industries such as construction, manufacturing, transportation, utilities, logistics and public safety, where durability, reliable connectivity and extended battery life are important.

The company’s portfolio includes rugged smartphones, feature phones and related accessories, including cases, charging solutions, headsets and other communications equipment.