Sonim Technologies, Inc. (NASDAQ:SONM) Stock Short Interest Falls 38.5%

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 10,815 shares, a decrease of 38.5% from the September 30th total of 17,581 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,016 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Sonim Technologies from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Sonim Technologies presently has an average rating of “Sell”.

Sonim Technologies Trading Up 2.8%

SONM stock traded up $0.07 during mid-day trading on Tuesday, reaching $2.77. The company’s stock had a trading volume of 5,525 shares, compared to its average volume of 9,113. The company has a market cap of $4.13 million, a price-to-earnings ratio of -0.35 and a beta of 1.70. The business’s 50 day moving average price is $3.42 and its 200 day moving average price is $4.16. Sonim Technologies has a 12 month low of $2.52 and a 12 month high of $11.90.

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

About Sonim Technologies

Sonim Technologies, Inc develops and supplies rugged mobile devices and accessories designed for demanding work environments. Its products are built for use in industries such as construction, manufacturing, transportation, utilities, logistics and public safety, where durability, reliable connectivity and extended battery life are important.

The company’s portfolio includes rugged smartphones, feature phones and related accessories, including cases, charging solutions, headsets and other communications equipment.