Sonim Technologies (NASDAQ:SONM) Trading 13.6% Higher – Here’s Why

Sonim Technologies, Inc. (NASDAQ:SONM) shares rose 13.6% on Monday . The company traded as high as $4.30 and last traded at $3.85. 73,485 shares changed hands during mid-day trading, an increase of 155% from the average daily volume of 28,807 shares. The stock had previously closed at $3.39.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sonim Technologies in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sonim Technologies currently has a consensus rating of “Sell”.

Sonim Technologies Trading Up 13.6%

The firm has a market capitalization of $5.74 million, a PE ratio of -0.29 and a beta of 1.86. The stock’s 50 day moving average price is $4.26 and its two-hundred day moving average price is $4.50.

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

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. Potomac Capital Management Inc. bought a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned approximately 4.66% of Sonim Technologies at the end of the most recent quarter. 3.26% of the stock is currently owned by 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.