SOBR Safe (NASDAQ:SOBR) Stock Price Down 10.5% – Here’s Why

SOBR Safe, Inc. (NASDAQ:SOBR)’s stock price traded down 10.5% during trading on Tuesday . The company traded as low as $0.7450 and last traded at $0.8059. 142,349 shares were traded during mid-day trading, a decline of 29% from the average session volume of 201,369 shares. The stock had previously closed at $0.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of SOBR Safe from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

SOBR Safe Price Performance

The company has a fifty day simple moving average of $1.03 and a two-hundred day simple moving average of $1.15. The company has a market capitalization of $2.11 million, a P/E ratio of -0.13 and a beta of 1.19.

SOBR Safe (NASDAQ:SOBR) last released its quarterly earnings results on Friday, April 10th. The company reported ($1.91) earnings per share (EPS) for the quarter. The company had revenue of $0.14 million for the quarter. SOBR Safe had a negative return on equity of 172.71% and a negative net margin of 2,166.28%.

Hedge Funds Weigh In On SOBR Safe

A hedge fund recently bought a new position in SOBR Safe stock. XTX Topco Ltd bought a new stake in SOBR Safe, Inc. (NASDAQ:SOBR) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 15,695 shares of the company’s stock, valued at approximately $34,000. XTX Topco Ltd owned about 1.04% of SOBR Safe at the end of the most recent quarter. 7.93% of the stock is currently owned by hedge funds and other institutional investors.

About SOBR Safe

SOBR Safe, Inc (NASDAQ: SOBR) is a technology company specializing in the development and commercialization of cognitive impairment monitoring solutions. The company’s flagship offerings consist of handheld breath alcohol screening devices and integrated cognitive assessment tools designed to detect impairment in real time. SOBR Safe’s product line pairs portable breathalyzers with proprietary software that captures, records and analyzes impairment data to help organizations maintain safety and compliance standards.

Founded in 2020 and headquartered in Vancouver, Canada, SOBR Safe has focused on research and development of non-invasive impairment detection technology.