Sono Group N.V. (NASDAQ:SSM) Sees Large Decline in Short Interest

Sono Group N.V. (NASDAQ:SSM) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 27,729 shares, a drop of 59.3% from the August 15th total of 68,106 shares. Based on an average daily trading volume, of 709,421 shares, the short-interest ratio is presently 0.0 days. Approximately 2.4% of the shares of the stock are short sold.

Insider Transactions at Sono Group

In other Sono Group news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 11,410 shares of Sono Group stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $3.71, for a total transaction of $42,331.10. Following the completion of the sale, the insider directly owned 141,916 shares in the company, valued at $526,508.36. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 35,501 shares of company stock worth $118,426 over the last three months. 19.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Sono Group currently has an average rating of “Sell”.

Sono Group Price Performance

Shares of NASDAQ:SSM traded down $0.15 during midday trading on Tuesday, reaching $1.86. The company’s stock had a trading volume of 109,146 shares, compared to its average volume of 308,213. The company has a market capitalization of $2.65 million, a PE ratio of -0.35 and a beta of 9.46. Sono Group has a 12-month low of $1.80 and a 12-month high of $10.54.

Sono Group (NASDAQ:SSM) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.59) EPS for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

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.