Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Expands By 207.5%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 59,407 shares, a growth of 207.5% from the July 15th total of 19,322 shares. Based on an average daily volume of 15,672 shares, the days-to-cover ratio is presently 3.8 days. Approximately 4.2% of the shares of the company are short sold.

Sonim Technologies Stock Up 3.8%

Shares of NASDAQ:SONM traded up $0.13 during trading on Friday, hitting $3.52. The stock had a trading volume of 4,333 shares, compared to its average volume of 16,835. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $16.97. The stock has a market capitalization of $5.24 million, a price-to-earnings ratio of -0.26 and a beta of 1.86. The stock has a 50-day simple moving average of $4.10 and a two-hundred day simple moving average of $4.42.

Sonim Technologies (NASDAQ:SONM) last issued its earnings results on Wednesday, May 20th. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of $5.04 by ($8.15).

Analysts Set New Price Targets

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

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new stake in Sonim Technologies stock. Potomac Capital Management Inc. bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned about 4.66% of Sonim Technologies at the end of the most recent reporting period. 3.26% of the stock is currently owned by institutional investors.

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.