Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Update

Sonim Technologies, Inc. (NASDAQ:SONMGet Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 949,200 shares, an increase of 83.4% from the April 30th total of 517,600 shares. Based on an average daily trading volume, of 3,590,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 5.3% of the shares of the stock are short sold.

SONM stock opened at $0.56 on Friday. The firm has a fifty day moving average price of $0.71 and a 200 day moving average price of $0.88. Sonim Technologies has a fifty-two week low of $0.48 and a fifty-two week high of $7.95. The firm has a market cap of $10.75 million, a PE ratio of -0.18 and a beta of 3.12.

Sonim Technologies (NASDAQ:SONMGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.38) earnings per share for the quarter. Sonim Technologies had a negative net margin of 65.77% and a negative return on equity of 264.64%. The business had revenue of $13.26 million during the quarter. As a group, research analysts anticipate that Sonim Technologies will post -1.3 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of SONM. State Street Corp purchased a new position in shares of Sonim Technologies in the second quarter valued at $40,000. Citadel Advisors LLC grew its holdings in shares of Sonim Technologies by 200.8% in the second quarter. Citadel Advisors LLC now owns 62,218 shares of the company’s stock valued at $35,000 after purchasing an additional 41,531 shares in the last quarter. Morgan Stanley boosted its stake in Sonim Technologies by 61.2% during the third quarter. Morgan Stanley now owns 47,590 shares of the company’s stock worth $128,000 after buying an additional 18,072 shares during the period. Jane Street Group LLC purchased a new position in Sonim Technologies during the third quarter worth $258,000. Finally, Bank of New York Mellon Corp purchased a new position in Sonim Technologies during the third quarter worth $61,000. 4.54% of the stock is owned by hedge funds and other institutional investors.

Separately, B. Riley reaffirmed a “buy” rating on shares of Sonim Technologies in a report on Wednesday, February 2nd.

About Sonim Technologies (Get Rating)

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, Sonim XP3, and Sonim XP3plus based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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