Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Up 30.9% in March

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 66,171 shares, a growth of 30.9% from the February 26th total of 50,557 shares. Based on an average daily trading volume, of 23,813 shares, the days-to-cover ratio is presently 2.8 days. Approximately 6.7% of the shares of the company are short sold.

Sonim Technologies Price Performance

NASDAQ SONM traded up $0.64 during trading hours on Monday, reaching $3.92. The company’s stock had a trading volume of 182,617 shares, compared to its average volume of 65,431. The firm has a market capitalization of $4.03 million, a price-to-earnings ratio of -0.29 and a beta of 1.60. The company’s 50-day moving average is $5.04 and its two-hundred day moving average is $7.38. Sonim Technologies has a 1-year low of $2.52 and a 1-year high of $61.00.

Institutional Investors Weigh In On Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd acquired a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned 0.14% of Sonim Technologies as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Sonim Technologies Company Profile

Sonim Technologies, Inc (NASDAQ: SONM) is a specialty device manufacturer focused on mission-critical communications. The company designs, develops and markets ultra-rugged mobile handsets, push-to-talk (PTT) devices, accessories and supporting software platforms for customers operating in the most demanding environments. Sonim’s product line emphasizes durability, extended battery life and secure connectivity, tailored to industries where reliable voice and data services are essential.

At the core of Sonim’s offering are its hardened smartphones and PTT devices, engineered to meet or exceed military- and industrial-grade specifications for shock, water, dust and temperature resistance.