Sonim Technologies (NASDAQ:SONM) Stock Price Up 13.6% – Here’s Why

Sonim Technologies, Inc. (NASDAQ:SONM)’s stock price was up 13.6% on Monday . The company traded as high as $4.30 and last traded at $3.85. 73,485 shares traded hands during mid-day trading, an increase of 155% from the average daily volume of 28,807 shares. The stock had previously closed at $3.39.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Sonim Technologies Stock Up 13.6%

The firm has a market cap of $5.74 million, a price-to-earnings ratio of -0.29 and a beta of 1.86. The firm has a fifty day moving average price of $4.26 and a 200-day moving average price of $4.50.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Wednesday, April 15th. The company reported ($9.44) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd bought a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent 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 0.14% of Sonim Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 3.26% of the company’s stock.

About Sonim Technologies

Sonim Technologies, Inc (NASDAQ: SONM) is a specialty device manufacturer focused on mission-critical communications. The company designs, develops and markets ultra-rugged mobile handsets, push-to-talk (PTT) devices, accessories and supporting software platforms for customers operating in the most demanding environments. Sonim’s product line emphasizes durability, extended battery life and secure connectivity, tailored to industries where reliable voice and data services are essential.

At the core of Sonim’s offering are its hardened smartphones and PTT devices, engineered to meet or exceed military- and industrial-grade specifications for shock, water, dust and temperature resistance.