Sonim Technologies’ (NASDAQ:SONM) quiet period will expire on Wednesday, June 19th. Sonim Technologies had issued 3,571,429 shares in its public offering on May 10th. The total size of the offering was $39,285,719 based on an initial share price of $11.00. During Sonim Technologies’ quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of analysts have weighed in on SONM shares. Lake Street Capital started coverage on Sonim Technologies in a report on Tuesday, June 4th. They set a “buy” rating and a $19.00 price target for the company. National Securities started coverage on Sonim Technologies in a report on Monday. They set a “neutral” rating and a $16.13 price target for the company. CIBC started coverage on Sonim Technologies in a report on Tuesday, June 4th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Oppenheimer started coverage on Sonim Technologies in a report on Tuesday, June 4th. They set an “outperform” rating and a $18.00 price target for the company.

Shares of Sonim Technologies stock opened at $17.52 on Friday. Sonim Technologies has a 1-year low of $9.66 and a 1-year high of $18.26.

In other news, Director John Kneuer bought 3,147 shares of Sonim Technologies stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $16.98 per share, for a total transaction of $53,436.06. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert Plaschke sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.23, for a total value of $306,900.00. The disclosure for this sale can be found here.

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About Sonim Technologies

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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