Insider Selling: Sono Group (NASDAQ:SSM) Major Shareholder Sells 4,000 Shares of Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $2.75, for a total transaction of $11,000.00. Following the sale, the insider directly owned 153,326 shares in the company, valued at approximately $421,646.50. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Sono Group Stock Down 1.5%

Shares of NASDAQ:SSM traded down $0.04 during trading on Monday, hitting $2.63. The company’s stock had a trading volume of 4,559 shares, compared to its average volume of 37,308. Sono Group N.V. has a fifty-two week low of $2.35 and a fifty-two week high of $27.73. The company has a market cap of $3.73 million, a price-to-earnings ratio of -0.49 and a beta of 9.60.

Sono Group (NASDAQ:SSM) last released its earnings results on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sono Group has an average rating of “Sell”.

Sono Group Company Profile

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.