Sono Group (NASDAQ:SSM) Posts Earnings Results

Sono Group (NASDAQ:SSM) released its quarterly earnings results on Friday. The company reported ($1.59) EPS for the quarter, Zacks reports. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Sono Group Stock Up 1.2%

Shares of NASDAQ SSM traded up $0.03 during mid-day trading on Friday, reaching $2.63. The company’s stock had a trading volume of 67,729 shares, compared to its average volume of 123,336. Sono Group has a 52 week low of $2.37 and a 52 week high of $27.73. The firm has a market cap of $3.73 million, a price-to-earnings ratio of -0.78 and a beta of 9.60.

Insiders Place Their Bets

In other Sono Group news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $3.24, for a total transaction of $65,094.84. Following the completion of the sale, the insider directly owned 157,326 shares of the company’s stock, valued at $509,736.24. This trade represents a 11.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on shares of Sono Group in a report on Friday, August 7th. They set a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.