Sonim Technologies (NASDAQ:SONM) Shares Down 4.2% – Should You Sell?

Sonim Technologies, Inc. (NASDAQ:SONM) dropped 4.2% during trading on Monday . The stock traded as low as $5.40 and last traded at $5.50. Approximately 32,450 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 39,651 shares. The stock had previously closed at $5.74.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Sonim Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Sonim Technologies Price Performance

The firm has a market capitalization of $5.67 million, a PE ratio of -0.41 and a beta of 1.57. The company has a 50-day moving average price of $10.82 and a 200 day moving average price of $13.30.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Friday, October 31st. The company reported ($3.86) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.40 by ($9.26). The business had revenue of $16.21 million for the quarter, compared to analysts’ expectations of $34.34 million. Sonim Technologies had a negative return on equity of 1,627.75% and a negative net margin of 56.48%. As a group, research analysts anticipate that Sonim Technologies, Inc. will post -2.34 earnings per share for the current year.

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd bought a new position in Sonim Technologies, Inc. (NASDAQ:SONM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 3.26% of the company’s stock.

About Sonim Technologies

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, Sonim XP3plus, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.