Sono Group N.V. (NASDAQ:SSM) Stock Short Interest Falls 71.1%

Sono Group N.V. (NASDAQ:SSM) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 37,609 shares, a decline of 71.1% from the September 30th total of 130,348 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily volume of 7,617,896 shares, the days-to-cover ratio is presently 0.0 days.

Sono Group Price Performance

Shares of NASDAQ:SSM opened at $1.11 on Wednesday. Sono Group has a 12-month low of $1.05 and a 12-month high of $10.54. The firm has a 50 day moving average of $1.92.

Sono Group (NASDAQ:SSM) last released its quarterly earnings data on Friday, August 14th. The company reported ($1.59) EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Sono Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Sono Group currently has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 11,410 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $3.71, for a total value of $42,331.10. Following the completion of the transaction, the insider directly owned 141,916 shares in the company, valued at $526,508.36. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 35,501 shares of company stock worth $118,426. 19.00% of the stock is currently owned by insiders.

Sono Group Company Profile

Sono Group N.V. was a German mobility technology company focused on integrating solar technology into vehicles. Through its Sono Motors operations, the company developed solar body-panel systems designed to generate electricity and supplement conventional or electric vehicle power systems.

Its principal development project was the Sion, a solar-assisted electric passenger vehicle intended for the European market. Sono also pursued commercial applications for its technology, including solar retrofit systems for buses, trucks and other fleet vehicles.