Sono Group N.V. (NASDAQ:SSM) Stock Short Interest Falls 71.1%

Sono Group N.V. (NASDAQ:SSM) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 37,609 shares, a decrease of 71.1% from the September 30th total of 130,348 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 7,617,896 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Sono Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Sono Group has an average rating of “Sell”.

Insider Activity

In other news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $3.24, for a total value of $65,094.84. Following the completion of the sale, the insider directly owned 157,326 shares of the company’s stock, valued at approximately $509,736.24. This trade represents a 11.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 35,501 shares of company stock valued at $118,426 in the last 90 days. 19.00% of the stock is currently owned by insiders.

Sono Group Price Performance

NASDAQ:SSM traded down $0.01 during mid-day trading on Thursday, reaching $1.09. The company’s stock had a trading volume of 43,860 shares, compared to its average volume of 922,280. The stock has a market capitalization of $1.56 million, a price-to-earnings ratio of -0.21 and a beta of 9.58. The business’s fifty day simple moving average is $1.89. Sono Group has a 1 year low of $1.05 and a 1 year high of $10.54.

Sono Group (NASDAQ:SSM) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.59) earnings per share for the quarter.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on integrating solar technology into vehicles. Through its Sono Motors operations, the company developed solar body-panel systems designed to generate electricity and supplement conventional or electric vehicle power systems.

Its principal development project was the Sion, a solar-assisted electric passenger vehicle intended for the European market. Sono also pursued commercial applications for its technology, including solar retrofit systems for buses, trucks and other fleet vehicles.