Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Down 56.2% in August

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned 0.14% of Sonim Technologies as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat, Sonim Technologies presently has an average rating of “Sell”.

Sonim Technologies Trading Up 5.8%

Shares of NASDAQ:SONM traded up $0.19 on Friday, hitting $3.46. 9,943 shares of the company were exchanged, compared to its average volume of 13,075. The firm has a market capitalization of $5.16 million, a P/E ratio of -0.43 and a beta of 1.86. Sonim Technologies has a 1-year low of $2.52 and a 1-year high of $16.97. The stock’s 50 day moving average price is $3.80 and its 200 day moving average price is $4.24.

Sonim Technologies (NASDAQ:SONM) last released 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.