Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Up 207.5% in July

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 59,407 shares, a growth of 207.5% from the July 15th total of 19,322 shares. Based on an average daily trading volume, of 15,672 shares, the days-to-cover ratio is presently 3.8 days. Approximately 4.2% of the shares of the company are short sold.

Sonim Technologies Stock Performance

SONM stock traded up $0.13 during mid-day trading on Friday, reaching $3.52. 4,333 shares of the company’s stock were exchanged, compared to its average volume of 16,835. The stock’s 50 day moving average is $4.10 and its 200 day moving average is $4.42. Sonim Technologies has a 12-month low of $2.52 and a 12-month high of $16.97.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of $5.04 by ($8.15).

Hedge Funds Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies as of its most recent SEC filing. 3.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.