Sono Group (NASDAQ:SSM) Major Shareholder 255 V. Ug Haftungsbes Bambino Sells 11,410 Shares

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 11,410 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $3.71, for a total transaction of $42,331.10. Following the transaction, the insider owned 141,916 shares of the company’s stock, valued at approximately $526,508.36. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Sono Group Stock Performance

NASDAQ SSM opened at $3.50 on Friday. The company has a market cap of $4.99 million, a price-to-earnings ratio of -0.66 and a beta of 9.46. Sono Group N.V. has a 1-year low of $2.35 and a 1-year high of $27.73.

Sono Group (NASDAQ:SSM) last issued its earnings results on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a negative return on equity of 50.42% and a net margin of 2,204.17%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.