Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Decline in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 51,000 shares, a decrease of 18.9% from the June 30th total of 62,900 shares. Based on an average daily volume of 54,300 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.2% of the shares of the stock are sold short.

Sonim Technologies Stock Up 2.1 %

Shares of NASDAQ SONM traded up $0.07 during trading hours on Friday, reaching $3.45. 13,150 shares of the stock traded hands, compared to its average volume of 97,014. The company’s 50-day simple moving average is $6.15 and its two-hundred day simple moving average is $6.20. The company has a market capitalization of $16.11 million, a P/E ratio of -43.12 and a beta of 2.58. Sonim Technologies has a 52-week low of $3.24 and a 52-week high of $11.00.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.40). Sonim Technologies had a negative return on equity of 14.82% and a negative net margin of 3.81%. The business had revenue of $16.78 million for the quarter, compared to analysts’ expectations of $18.00 million. As a group, sell-side analysts forecast that Sonim Technologies will post -2.13 earnings per share for the current fiscal year.

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, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.