Sonim Technologies, Inc. (NASDAQ:SONM) Sees Large Decline in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 26,029 shares, a drop of 56.2% from the July 30th total of 59,407 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily volume of 17,108 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Sonim Technologies

A hedge fund recently bought a new position in Sonim Technologies stock. Potomac Capital Management Inc. acquired a new position in Sonim Technologies, Inc. (NASDAQ:SONM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned 4.66% of Sonim Technologies at the end of the most recent quarter. Institutional investors own 3.26% of the company’s stock.

Sonim Technologies Trading Up 5.8%

NASDAQ:SONM traded up $0.19 during trading hours on Friday, hitting $3.46. 9,943 shares of the company traded hands, compared to its average volume of 13,075. Sonim Technologies has a twelve month low of $2.52 and a twelve month high of $16.97. The firm has a 50-day moving average of $3.80 and a 200 day moving average of $4.24. The stock has a market capitalization of $5.15 million, a price-to-earnings ratio of -0.43 and a beta of 1.86.

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

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.