Sonim Technologies, Inc. (NASDAQ:SONM) Sees Large Increase in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 85,395 shares, an increase of 168.1% from the April 15th total of 31,848 shares. Approximately 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 31,245 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Sonim Technologies presently has a consensus rating of “Sell”.

Sonim Technologies Stock Down 5.9%

Shares of Sonim Technologies stock opened at $4.77 on Friday. The firm has a market capitalization of $7.11 million, a P/E ratio of -0.36 and a beta of 1.93. The company has a 50 day moving average price of $3.98 and a 200 day moving average price of $5.47. Sonim Technologies has a 52 week low of $2.52 and a 52 week high of $38.52.

Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings data on Wednesday, April 15th. The company reported ($9.44) EPS for the quarter.

Hedge Funds Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd purchased a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies at the end of the most recent quarter. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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.