Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Sonim Technologies, Inc. (NASDAQ:SONM – Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 82,334 shares, a growth of 53.1% from the December 15th total of 53,767 shares. Based on an average daily volume of 79,958 shares, the days-to-cover ratio is currently 1.0 days. Approximately 8.4% of the company’s stock are short sold. Approximately 8.4% of the company’s stock are short sold. Based on an average daily volume of 79,958 shares, the days-to-cover ratio is currently 1.0 days.

Sonim Technologies Trading Up 19.0%

Shares of Sonim Technologies stock traded up $0.75 during trading hours on Friday, reaching $4.70. 65,310 shares of the company’s stock were exchanged, compared to its average volume of 59,437. The stock has a market cap of $4.84 million, a P/E ratio of -0.35 and a beta of 1.57. The company has a 50 day moving average of $5.79 and a two-hundred day moving average of $9.77. Sonim Technologies has a fifty-two week low of $2.52 and a fifty-two week high of $64.80.

Sonim Technologies (NASDAQ:SONM – Get Free Report) last released its earnings results on Friday, October 31st. The company reported ($3.86) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.40 by ($9.26). Sonim Technologies had a negative return on equity of 1,627.75% and a negative net margin of 56.48%.The company had revenue of $16.21 million for the quarter, compared to the consensus estimate of $34.34 million. As a group, analysts expect that Sonim Technologies will post -2.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Check Out Our Latest Analysis on SONM

Hedge Funds Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 quarter. Institutional investors own 3.26% of the company’s stock.

About Sonim Technologies

(Get Free Report)

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.

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