Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Declines By 56.2%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 26,029 shares, a drop of 56.2% from the July 30th total of 59,407 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 17,108 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new stake in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

Analyst Ratings Changes

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

Sonim Technologies Stock Up 5.8%

Shares of NASDAQ SONM traded up $0.19 during mid-day trading on Friday, reaching $3.46. 9,943 shares of the company were exchanged, compared to its average volume of 13,075. Sonim Technologies has a 1 year low of $2.52 and a 1 year high of $16.97. The firm has a 50-day moving average of $3.80 and a 200 day moving average of $4.24. The stock has a market cap of $5.16 million, a price-to-earnings ratio of -0.43 and a beta of 1.86.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Wednesday, August 19th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($6.27).

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.