Sono Group N.V. (NASDAQ:SSM) Stock Short Interest Rises 66.3%

Sono Group N.V. (NASDAQ:SSM) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 46,127 shares, an increase of 66.3% from the August 31st total of 27,729 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,692,180 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

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

Sono Group Trading Up 1.8%

SSM traded up $0.02 during trading on Wednesday, hitting $1.15. The company’s stock had a trading volume of 60,264 shares, compared to its average volume of 544,753. Sono Group has a one year low of $1.05 and a one year high of $10.54. The company has a market capitalization of $1.63 million, a PE ratio of -0.22 and a beta of 9.46.

Sono Group (NASDAQ:SSM) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Insider Activity

In related news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of Sono Group stock in a transaction on Monday, August 10th. The stock was sold at an average price of $3.24, for a total value of $65,094.84. Following the completion of the sale, the insider owned 157,326 shares of the company’s stock, valued at $509,736.24. The trade was a 11.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 35,501 shares of company stock valued at $118,426. Company insiders own 19.00% of the company’s stock.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its subsidiary Sono Motors GmbH, the company developed the Sion, a battery-electric passenger vehicle designed to integrate solar cells into its body to supplement power from conventional charging.

In addition to pursuing its own vehicle program, Sono Group developed solar integration technology intended for use in buses, trucks, vans and other commercial vehicles.