Sono Group (NASDAQ:SSM – Get Free Report) posted its earnings results on Friday. The company reported ($1.59) earnings per share (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 Performance
NASDAQ SSM traded up $0.03 during trading on Friday, hitting $2.63. The stock had a trading volume of 67,729 shares, compared to its average volume of 37,971. Sono Group has a 12 month low of $2.37 and a 12 month high of $27.73. The stock has a market capitalization of $3.73 million, a price-to-earnings ratio of -0.78 and a beta of 9.60.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings initiated coverage on Sono Group in a report on Friday, August 7th. They set a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sono Group presently has a consensus rating of “Sell”.
Insider Activity
In other news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $3.24, for a total value of $65,094.84. Following 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 document filed with the SEC, which can be accessed through the SEC website. 19.00% of the stock is owned by company insiders.
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.
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