Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Rises By 30.9%

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

Sonim Technologies Price Performance

Shares of SONM stock traded up $0.53 during trading hours on Friday, reaching $3.28. 924,407 shares of the stock were exchanged, compared to its average volume of 23,780. The business’s fifty day moving average is $5.04 and its two-hundred day moving average is $7.40. The firm has a market capitalization of $3.38 million, a P/E ratio of -0.24 and a beta of 1.60. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $61.00.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission. 3.26% of the stock is currently owned by institutional investors and hedge funds.

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.