Sonim Technologies (NASDAQ:SONM) Announces Quarterly Earnings Results, Misses Estimates By $6.27 EPS

Sonim Technologies (NASDAQ:SONM) announced its quarterly earnings results on Wednesday. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($6.27), Zacks reports.

Sonim Technologies Stock Performance

SONM stock traded up $0.06 during mid-day trading on Wednesday, reaching $3.38. 4,015 shares of the stock traded hands, compared to its average volume of 40,577. The business has a 50-day moving average price of $4.03 and a two-hundred day moving average price of $4.36. The stock has a market capitalization of $5.04 million, a PE ratio of -0.25 and a beta of 1.86. Sonim Technologies has a one year low of $2.52 and a one year high of $16.97.

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new stake in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 3.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.