Sonim Technologies (NASDAQ:SONM) Trading Down 5% – Should You Sell?

Sonim Technologies, Inc. (NASDAQ:SONM) shares traded down 5% on Friday . The company traded as low as $5.60 and last traded at $5.67. 14,121 shares were traded during trading, a decline of 76% from the average session volume of 58,602 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Sonim Technologies Stock Performance

The firm has a market capitalization of $5.84 million, a P/E ratio of -0.42 and a beta of 1.64. The stock has a 50 day moving average of $4.96 and a 200-day moving average of $8.71.

Institutional Investors Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to the company in its most recent 13F filing 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 approximately 0.14% of Sonim Technologies at the end of the most recent reporting period. 3.26% of the stock is owned by institutional investors and hedge funds.

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.