Sonim Technologies (NASDAQ:SONM) Raised to Buy at ValuEngine

Sonim Technologies (NASDAQ:SONM) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Oppenheimer assumed coverage on Sonim Technologies in a report on Tuesday, June 4th. They set an “outperform” rating and a $18.00 price objective on the stock. National Securities raised Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, July 9th. Lake Street Capital assumed coverage on Sonim Technologies in a report on Tuesday, June 4th. They set a “buy” rating and a $19.00 price objective on the stock. Zacks Investment Research downgraded Sonim Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 26th. Finally, CIBC assumed coverage on Sonim Technologies in a report on Tuesday, June 4th. They set an “outperform” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.36.

NASDAQ SONM traded down $0.10 during trading on Tuesday, reaching $2.83. 180,416 shares of the company traded hands, compared to its average volume of 178,070. The company has a current ratio of 2.25, a quick ratio of 1.53 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $5.78. Sonim Technologies has a 1-year low of $2.74 and a 1-year high of $18.26.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $43.75 million during the quarter, compared to the consensus estimate of $42.60 million. On average, analysts predict that Sonim Technologies will post -0.54 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP bought a new position in shares of Sonim Technologies in the second quarter valued at approximately $1,209,000. Park West Asset Management LLC bought a new position in shares of Sonim Technologies in the second quarter valued at approximately $1,273,000. Jane Street Group LLC bought a new position in shares of Sonim Technologies in the second quarter valued at approximately $259,000. Cubist Systematic Strategies LLC bought a new position in shares of Sonim Technologies in the second quarter valued at approximately $424,000. Finally, Vanguard Group Inc. bought a new position in shares of Sonim Technologies in the second quarter valued at approximately $1,093,000. Institutional investors own 46.28% of the company’s stock.

Sonim Technologies Company Profile

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

Further Reading: Day Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sonim Technologies (NASDAQ:SONM)

Receive News & Ratings for Sonim Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonim Technologies and related companies with MarketBeat.com's FREE daily email newsletter.