Sonim Technologies (NASDAQ:SONM) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Sonim Technologies (NASDAQ:SONM) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Sonim Technologies Inc. provides ultra-rugged mobile phones and accessories. It provides its solutions under categories of ultra-rugged mobile phones based on the Android platform, which are capable of attaching to both public and private wireless networks; industrial-grade accessories and cloud-based software and application services. The company serves construction, energy and utility, hospitality, logistics, manufacturing, public sector and transportation sectors. Sonim Technologies Inc. is based in San Mateo, United States. “

SONM has been the topic of several other research reports. National Securities upgraded Sonim Technologies from a neutral rating to a buy rating and set a $17.00 price objective on the stock in a report on Tuesday, July 9th. ValuEngine upgraded Sonim Technologies from a hold rating to a buy rating in a report on Tuesday, October 1st. UBS Group reiterated an outperform rating and issued a $6.00 price objective (down previously from $18.00) on shares of Sonim Technologies in a report on Wednesday, September 11th. Finally, B. Riley cut their price objective on Sonim Technologies from $18.00 to $7.00 and set a buy rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $13.36.

NASDAQ:SONM traded down $0.01 on Friday, reaching $3.01. The company’s stock had a trading volume of 54,283 shares, compared to its average volume of 199,302. Sonim Technologies has a 12-month low of $2.70 and a 12-month high of $18.26. The company has a quick ratio of 1.53, a current ratio of 2.25 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $4.10.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Wednesday, July 24th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The business had revenue of $43.75 million during the quarter, compared to the consensus estimate of $42.60 million. Sell-side analysts anticipate that Sonim Technologies will post -0.54 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of SONM. Tower Research Capital LLC TRC acquired a new position in Sonim Technologies during the 2nd quarter worth $175,000. Northern Trust Corp acquired a new position in Sonim Technologies during the 2nd quarter worth $255,000. Jane Street Group LLC acquired a new position in Sonim Technologies during the 2nd quarter worth $259,000. Cubist Systematic Strategies LLC acquired a new position in Sonim Technologies during the 2nd quarter worth $424,000. Finally, Vanguard Group Inc. acquired a new position in Sonim Technologies during the 2nd quarter worth $1,093,000. Hedge funds and other institutional investors own 46.28% of the company’s stock.

Sonim Technologies Company Profile

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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