Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Update

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 66,171 shares, an increase of 30.9% from the February 26th total of 50,557 shares. Based on an average daily trading volume, of 23,813 shares, the days-to-cover ratio is presently 2.8 days. Approximately 6.7% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds 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) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Sonim Technologies Price Performance

Shares of SONM stock traded up $0.53 during trading on Friday, hitting $3.28. 924,407 shares of the stock traded hands, compared to its average volume of 23,780. The firm has a market capitalization of $3.38 million, a P/E ratio of -0.24 and a beta of 1.60. The firm’s fifty day moving average price is $5.04 and its 200-day moving average price is $7.40. Sonim Technologies has a 52-week low of $2.52 and a 52-week high of $61.00.

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.