Sono Group (NASDAQ:SSM) Major Shareholder Sells $11,000.00 in Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $2.75, for a total transaction of $11,000.00. Following the transaction, the insider owned 153,326 shares of the company’s stock, valued at approximately $421,646.50. This represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Sono Group Trading Up 0.8%

SSM opened at $4.80 on Thursday. The firm has a market capitalization of $6.82 million, a price-to-earnings ratio of -0.90 and a beta of 9.46. Sono Group N.V. has a twelve month low of $2.35 and a twelve month high of $27.73.

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

Analysts Set New Price Targets

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