Sonim Technologies (NASDAQ:SONM) Trading Up 5.9% – Here’s Why

Shares of Sonim Technologies, Inc. (NASDAQ:SONM) were up 5.9% during trading on Thursday . The stock traded as high as $3.22 and last traded at $3.21. Approximately 32,101 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 58,923 shares. The stock had previously closed at $3.03.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Sonim Technologies Price Performance

The company has a market capitalization of $3.44 million, a price-to-earnings ratio of -0.25 and a beta of 1.57. The firm’s fifty day moving average price is $6.40 and its 200-day moving average price is $10.36.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Friday, October 31st. The company reported ($3.86) earnings per share for the quarter, missing analysts’ consensus estimates of $5.40 by ($9.26). The firm had revenue of $16.21 million for the quarter, compared to the consensus estimate of $34.34 million. Sonim Technologies had a negative return on equity of 1,627.75% and a negative net margin of 56.48%. On average, research analysts predict that Sonim Technologies, Inc. will post -2.34 earnings per share for the current year.

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd purchased a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned 0.14% of Sonim Technologies at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

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.