Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Increases By 53.1%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 82,334 shares, an increase of 53.1% from the December 15th total of 53,767 shares. Currently, 8.4% of the shares of the stock are sold short. Based on an average trading volume of 79,958 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 79,958 shares, the days-to-cover ratio is currently 1.0 days. Currently, 8.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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. Hedge funds and other institutional investors own 3.26% of the company’s stock.

Sonim Technologies Trading Up 19.0%

Shares of NASDAQ:SONM opened at $4.70 on Friday. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $64.80. The stock’s 50-day moving average price is $5.65 and its 200-day moving average price is $9.64. The stock has a market capitalization of $4.84 million, a P/E ratio of -0.35 and a beta of 1.57.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings results on Friday, October 31st. The company reported ($3.86) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.40 by ($9.26). Sonim Technologies had a negative return on equity of 1,627.75% and a negative net margin of 56.48%.The company had revenue of $16.21 million for the quarter, compared to the consensus estimate of $34.34 million. As a group, research analysts predict that Sonim Technologies will post -2.34 EPS for the current year.

Sonim Technologies Company Profile

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.