B. Riley assumed coverage on shares of Sonim Technologies (NASDAQ:SONM) in a research note released on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $17.00 price target on the stock.
A number of other research firms also recently weighed in on SONM. Oppenheimer began coverage on Tilray in a report on Tuesday, June 4th. They set a market perform rating on the stock. National Securities upgraded Sonim Technologies from a neutral rating to a buy rating and set a $17.00 target price on the stock in a report on Tuesday, July 9th. Lake Street Capital began coverage on Sonim Technologies in a report on Tuesday, June 4th. They set a buy rating and a $19.00 target price on the stock. Finally, CIBC began coverage on Uber Technologies in a report on Tuesday, June 4th. They set an outperform rating and a $55.00 target price on the stock. Five research analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average target price of $17.80.
NASDAQ:SONM traded up $0.33 during mid-day trading on Thursday, reaching $13.73. 503 shares of the company’s stock traded hands, compared to its average volume of 143,422. Sonim Technologies has a 12-month low of $9.66 and a 12-month high of $18.26. The company has a debt-to-equity ratio of 21.31, a current ratio of 1.24 and a quick ratio of 0.63. The firm’s 50 day moving average is $14.36.
Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings results on Monday, June 24th. The company reported ($0.39) earnings per share (EPS) for the quarter. The company had revenue of $26.48 million during the quarter. Analysts expect that Sonim Technologies will post 0.12 EPS for the current fiscal year.
In other news, CEO Robert Plaschke sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.23, for a total value of $306,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Kneuer acquired 3,147 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $16.98 per share, for a total transaction of $53,436.06. The disclosure for this purchase can be found here.
About Sonim Technologies
Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 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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