Sonim Technologies (NASDAQ:SONM) Releases Quarterly Earnings Results, Misses Expectations By $6.27 EPS

Sonim Technologies (NASDAQ:SONM) announced its quarterly earnings results on Wednesday. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $5.22 by ($6.27), Zacks reports.

Sonim Technologies Price Performance

Shares of Sonim Technologies stock traded up $0.06 on Wednesday, reaching $3.38. The company had a trading volume of 7,449 shares, compared to its average volume of 40,578. The firm has a market cap of $5.04 million, a price-to-earnings ratio of -0.25 and a beta of 1.86. The firm’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $4.36. Sonim Technologies has a 1 year low of $2.52 and a 1 year high of $16.97.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sonim Technologies has a consensus rating of “Sell”.

Institutional Trading of Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 SEC filing. 3.26% of the stock is owned by hedge funds and other institutional investors.

About Sonim Technologies

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.