Sonim Technologies (NASDAQ:SONM) Shares Down 4.5%

Sonim Technologies, Inc. (NASDAQ:SONM)’s share price fell 4.5% on Friday . The stock traded as low as $0.48 and last traded at $0.48. 42,032 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 89,631 shares. The stock had previously closed at $0.50.

Sonim Technologies Price Performance

The firm’s 50 day simple moving average is $0.63 and its two-hundred day simple moving average is $0.69.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $13.43 million during the quarter, compared to the consensus estimate of $27.57 million. Sonim Technologies had a negative return on equity of 0.41% and a negative net margin of 0.10%. On average, equities analysts anticipate that Sonim Technologies, Inc. will post 0.01 EPS for the current fiscal year.

Institutional Trading of Sonim Technologies

Several hedge funds have recently added to or reduced their stakes in SONM. Citigroup Inc. raised its stake in shares of Sonim Technologies by 163.9% during the first quarter. Citigroup Inc. now owns 39,210 shares of the company’s stock valued at $34,000 after acquiring an additional 24,350 shares during the last quarter. First Foundation Advisors bought a new position in shares of Sonim Technologies during the third quarter valued at about $32,000. BlackRock Inc. bought a new position in shares of Sonim Technologies during the second quarter valued at about $59,000. Renaissance Technologies LLC bought a new position in shares of Sonim Technologies during the second quarter valued at about $89,000. Finally, Geode Capital Management LLC raised its stake in shares of Sonim Technologies by 126.0% during the second quarter. Geode Capital Management LLC now owns 167,420 shares of the company’s stock valued at $193,000 after acquiring an additional 93,343 shares during the last quarter. 3.26% of the stock is owned by institutional investors.

About Sonim Technologies

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, 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.