Sonim Technologies (NASDAQ:SONM) Trading Up 4% – Here’s What Happened

Sonim Technologies, Inc. (NASDAQ:SONM)’s stock price was up 4% during mid-day trading on Wednesday . The stock traded as high as $5.30 and last traded at $5.3540. Approximately 3,589 shares traded hands during trading, a decline of 79% from the average daily volume of 17,079 shares. The stock had previously closed at $5.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sonim Technologies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Sonim Technologies Price Performance

The business has a 50 day moving average of $4.75 and a 200 day moving average of $4.57. The firm has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.40 and a beta of 1.80.

Sonim Technologies (NASDAQ:SONM) last issued its earnings results on Wednesday, April 15th. The company reported ($9.44) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. Potomac Capital Management Inc. purchased a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned approximately 4.66% of Sonim Technologies as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

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.