Sonim Technologies, Inc. (NASDAQ:SONM) Sees Large Increase in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) saw a significant growth in short interest during 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. Approximately 8.4% of the shares of the stock are sold short. Based on an average daily volume of 79,958 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 79,958 shares, the short-interest ratio is currently 1.0 days. Approximately 8.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies at the end of the most recent quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Sonim Technologies Price Performance

Shares of Sonim Technologies stock traded up $0.75 during trading on Friday, hitting $4.70. 65,310 shares of the company were exchanged, compared to its average volume of 59,437. The firm has a market capitalization of $4.84 million, a P/E ratio of -0.35 and a beta of 1.57. The firm’s fifty day moving average price is $5.79 and its 200 day moving average price is $9.77. Sonim Technologies has a 1-year low of $2.52 and a 1-year high of $64.80.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Friday, October 31st. The company reported ($3.86) earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities research analysts anticipate that Sonim Technologies will post -2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Sonim Technologies Company Profile

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.