Insider Selling: Sono Group (NASDAQ:SSM) Major Shareholder Sells $42,331.10 in Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 11,410 shares of Sono Group stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $3.71, for a total transaction of $42,331.10. Following the sale, the insider directly owned 141,916 shares in the company, valued at approximately $526,508.36. The trade was a 7.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Sono Group Stock Performance

SSM traded down $0.74 during trading hours on Thursday, reaching $4.06. The company’s stock had a trading volume of 110,633 shares, compared to its average volume of 315,307. The stock has a market capitalization of $5.77 million, a PE ratio of -0.77 and a beta of 9.46. Sono Group N.V. has a fifty-two week low of $2.35 and a fifty-two week high of $27.73.

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

Analysts Set New Price Targets

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