Sonim Technologies (NASDAQ:SONM) Shares Up 2.4% – Time to Buy?

Sonim Technologies, Inc. (NASDAQ:SONM) shares shot up 2.4% on Monday. The stock traded as high as $3.42 and last traded at $3.3490. 6,931 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 19,790 shares. The stock had previously closed at $3.27.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Sonim Technologies from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Sonim Technologies Stock Performance

The company has a market capitalization of $4.99 million, a price-to-earnings ratio of -0.42 and a beta of 1.70. The company has a 50 day moving average price of $3.51 and a 200 day moving average price of $3.95.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $5.22 by ($6.27).

About Sonim Technologies

Sonim Technologies, Inc develops and sells rugged mobile devices and accessories designed for workers and organizations operating in demanding environments. Its products are built to withstand exposure to water, dust, drops and extreme temperatures, and are intended for use in industries such as construction, manufacturing, transportation, utilities, public safety, government and healthcare.

The company’s product portfolio has included rugged smartphones, feature phones, broadband devices and related accessories, including protective cases, charging solutions, headsets and remote speaker microphones.