Sono Group (NASDAQ:SSM) Major Shareholder Sells $42,331.10 in Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 11,410 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $3.71, for a total value of $42,331.10. Following the completion of the sale, the insider owned 141,916 shares in the company, valued at $526,508.36. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Sono Group Stock Performance

NASDAQ:SSM opened at $3.10 on Friday. The stock has a market capitalization of $4.40 million, a price-to-earnings ratio of -0.58 and a beta of 9.46. Sono Group N.V. has a 12-month low of $2.35 and a 12-month high of $27.73.

Sono Group (NASDAQ:SSM) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.