Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Drops By 38.7%

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 41,700 shares, a decline of 38.7% from the October 15th total of 68,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 1.9 days.

Sonim Technologies Price Performance

Shares of SONM traded up $0.01 during mid-day trading on Friday, reaching $3.24. 2,920 shares of the company’s stock traded hands, compared to its average volume of 26,846. The stock’s 50-day moving average is $3.11 and its two-hundred day moving average is $4.34. Sonim Technologies has a 12 month low of $2.32 and a 12 month high of $10.70. The stock has a market cap of $15.67 million, a P/E ratio of -1.11 and a beta of 2.52.

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.