Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Expands By 207.5%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 59,407 shares, an increase of 207.5% from the July 15th total of 19,322 shares. Approximately 4.2% of the company’s shares are sold short. Based on an average trading volume of 15,672 shares, the days-to-cover ratio is presently 3.8 days.

Sonim Technologies Stock Down 2.3%

Shares of SONM stock traded down $0.08 on Thursday, hitting $3.39. The stock had a trading volume of 7,866 shares, compared to its average volume of 41,476. The business has a 50 day moving average price of $4.14 and a 200 day moving average price of $4.44. The company has a market cap of $5.05 million, a PE ratio of -0.25 and a beta of 1.86. Sonim Technologies has a one year low of $2.52 and a one year high of $16.97.

Sonim Technologies (NASDAQ:SONM) last issued its earnings results on Wednesday, May 20th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($8.15).

Hedge Funds Weigh In On Sonim Technologies

An institutional investor recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new position in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sonim Technologies Company Profile

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.