Sonim Technologies, Inc. (NASDAQ:SONM) Sees Large Drop in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 90,000 shares, a decrease of 23.5% from the March 31st total of 117,600 shares. Based on an average daily volume of 94,600 shares, the short-interest ratio is currently 1.0 days. Currently, 0.4% of the shares of the stock are sold short.

Sonim Technologies Trading Up 4.4 %

NASDAQ:SONM traded up $0.02 during trading hours on Monday, reaching $0.51. 827,005 shares of the company’s stock were exchanged, compared to its average volume of 97,805. Sonim Technologies has a 12 month low of $0.44 and a 12 month high of $1.30. The business’s 50-day simple moving average is $0.61 and its two-hundred day simple moving average is $0.68.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data 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 company had revenue of $13.43 million for 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, research analysts anticipate that Sonim Technologies will post 0.01 EPS for the current fiscal year.

Institutional Trading of Sonim Technologies

An institutional investor recently raised its position in Sonim Technologies stock. Sicart Associates LLC increased its position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) by 86.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,000 shares of the company’s stock after acquiring an additional 192,000 shares during the quarter. Sicart Associates LLC owned 1.00% of Sonim Technologies worth $277,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.26% of the company’s stock.

Sonim Technologies Company Profile

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.