Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Down 70.5% in June

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 15,981 shares, a decline of 70.5% from the June 15th total of 54,245 shares. Based on an average daily volume of 18,228 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.1% of the company’s stock are sold short.

Sonim Technologies Stock Up 0.5%

Shares of SONM traded up $0.02 during midday trading on Friday, hitting $4.05. The company had a trading volume of 12,201 shares, compared to its average volume of 32,540. The stock has a market cap of $6.03 million, a price-to-earnings ratio of -0.30 and a beta of 1.81. Sonim Technologies has a 52 week low of $2.52 and a 52 week high of $16.97. The company’s 50 day moving average price is $4.72 and its 200 day moving average price is $4.50.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research report on Tuesday, April 21st. One equities 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”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sonim Technologies stock. Potomac Capital Management Inc. bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned about 4.66% of Sonim Technologies as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is owned by institutional investors.

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.