Sonim Technologies (NASDAQ:SONM) Issues Earnings Results

Sonim Technologies (NASDAQ:SONM) announced its earnings results on Wednesday. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($6.27), Zacks reports.

Sonim Technologies Stock Performance

Shares of Sonim Technologies stock traded up $0.06 during trading hours on Wednesday, hitting $3.38. The company’s stock had a trading volume of 4,015 shares, compared to its average volume of 40,577. The company has a market cap of $5.04 million, a PE ratio of -0.25 and a beta of 1.86. The business has a 50 day moving average price of $4.03 and a two-hundred day moving average price of $4.36. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $16.97.

Institutional Trading of Sonim Technologies

A hedge fund recently bought a new position in Sonim Technologies stock. XTX Topco Ltd purchased a new position in Sonim Technologies, Inc. (NASDAQ:SONM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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. Institutional investors own 3.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sonim Technologies presently has an average 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.