Sono Group N.V. (NASDAQ:SSM) Sees Significant Decline in Short Interest

Sono Group N.V. (NASDAQ:SSM) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 27,729 shares, a drop of 59.3% from the August 15th total of 68,106 shares. Based on an average trading volume of 709,421 shares, the short-interest ratio is currently 0.0 days. Approximately 2.4% of the company’s stock are short sold.

Insider Buying and Selling at Sono Group

In other news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 11,410 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $3.71, for a total transaction of $42,331.10. Following the completion of the sale, the insider owned 141,916 shares in the company, valued at approximately $526,508.36. The trade was a 7.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 35,501 shares of company stock worth $118,426. 19.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Sono Group Price Performance

Sono Group stock opened at $2.11 on Friday. Sono Group has a 12 month low of $1.83 and a 12 month high of $10.75. The company has a market cap of $3.01 million, a PE ratio of -0.40 and a beta of 9.46.

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

Sono Group Company Profile

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.