Sonim Technologies (NASDAQ:SONM) Shares Up 1.3% – Time to Buy?

Sonim Technologies, Inc. (NASDAQ:SONM) shares shot up 1.3% on Wednesday . The stock traded as high as $5.05 and last traded at $4.86. 21,324 shares changed hands during trading, a decline of 15% from the average session volume of 25,172 shares. The stock had previously closed at $4.80.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Sonim Technologies Stock Performance

The company’s 50-day moving average price is $4.27 and its 200 day moving average price is $4.68. The stock has a market capitalization of $7.24 million, a PE ratio of -0.36 and a beta of 1.86.

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

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. Potomac Capital Management Inc. bought a new position in Sonim Technologies, Inc. (NASDAQ:SONM) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned 4.66% of Sonim Technologies at the end of the most recent quarter. Hedge funds and other institutional investors 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.