Sonim Technologies (NASDAQ:SONM) Trading Down 6%


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Sonim Technologies, Inc. (NASDAQ:SONM)’s stock price was down 6% on Tuesday . The company traded as low as $0.96 and last traded at $1.09. Approximately 2,269,988 shares changed hands during trading, a decline of 35% from the average daily volume of 3,480,597 shares. The stock had previously closed at $1.16.

A number of equities analysts recently weighed in on SONM shares. B. Riley restated a “buy” rating on shares of Sonim Technologies in a research report on Wednesday, December 16th. Zacks Investment Research lowered shares of Sonim Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.06.

The company has a market cap of $72.12 million, a PE ratio of -0.96 and a beta of 3.72. The stock’s 50 day moving average is $0.99 and its 200-day moving average is $0.78. The company has a quick ratio of 1.70, a current ratio of 2.20 and a debt-to-equity ratio of 0.01.

Institutional investors have recently added to or reduced their stakes in the stock. Equitec Proprietary Markets LLC raised its stake in Sonim Technologies by 83.3% during the fourth quarter. Equitec Proprietary Markets LLC now owns 3,559,345 shares of the company’s stock valued at $2,577,000 after purchasing an additional 1,617,365 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Sonim Technologies by 6.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 255,670 shares of the company’s stock valued at $185,000 after acquiring an additional 15,670 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Sonim Technologies in the third quarter valued at $312,000. Perkins Capital Management Inc. purchased a new stake in shares of Sonim Technologies in the third quarter valued at $466,000. Finally, Jane Street Group LLC raised its stake in shares of Sonim Technologies by 27.6% in the third quarter. Jane Street Group LLC now owns 84,805 shares of the company’s stock valued at $66,000 after acquiring an additional 18,329 shares during the period. 48.02% of the stock is currently owned by institutional investors.

Sonim Technologies Company Profile (NASDAQ:SONM)

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; cloud-based software and application services; and Rapid Deployment Kit, a portable communications system.

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