Sonim Technologies (NASDAQ:SONM) Trading Down 5% – What’s Next?

Sonim Technologies, Inc. (NASDAQ:SONM) shares traded down 5% on Friday . The stock traded as low as $5.60 and last traded at $5.67. 14,121 shares were traded during mid-day trading, a decline of 76% from the average session volume of 58,602 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Sonim Technologies Price Performance

The stock has a market cap of $5.83 million, a price-to-earnings ratio of -0.42 and a beta of 1.64. The firm’s 50-day moving average is $4.96 and its 200 day moving average is $8.68.

Institutional Investors Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd purchased a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies at the end of the most recent reporting period. 3.26% of the stock is owned by hedge funds and other institutional investors.

About Sonim Technologies

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.