Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Update

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 157,300 shares, anincreaseof55.9% from the July 15th total of 100,900 shares. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is presently 0.0 days. Approximately1.2% of the company’s shares are sold short. Approximately1.2% of the company’s shares are sold short. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Sonim Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th.

Sonim Technologies Trading Down 1.8%

NASDAQ:SONM opened at $0.53 on Thursday. Sonim Technologies has a 1 year low of $0.5210 and a 1 year high of $6.38. The stock has a market cap of $9.40 million, a price-to-earnings ratio of -0.18 and a beta of 1.81. The stock has a 50-day moving average price of $0.83 and a two-hundred day moving average price of $1.47.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Friday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.65). Sonim Technologies had a negative net margin of 53.77% and a negative return on equity of 1,627.75%. The business had revenue of $11.19 million during the quarter, compared to analyst estimates of $29.17 million. Sell-side analysts forecast that Sonim Technologies will post -2.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Laurence W. Lytton sold 400,514 shares of Sonim Technologies stock in a transaction on Monday, June 30th. The stock was sold at an average price of $1.39, for a total transaction of $556,714.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Laurence W. Lytton sold 466,402 shares of Sonim Technologies stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $1.50, for a total value of $699,603.00. Following the sale, the insider directly owned 400,514 shares of the company’s stock, valued at approximately $600,771. This trade represents a 53.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 49.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Sonim Technologies Company Profile

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, Sonim XP3plus, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.