Sono Group (NASDAQ:SSM) Announces Earnings Results

Sono Group (NASDAQ:SSM) issued its quarterly earnings results on Friday. The company reported ($1.59) EPS for the quarter, Zacks reports. Sono Group had a negative return on equity of 50.42% and a net margin of 2,204.17%.

Sono Group Stock Performance

Shares of Sono Group stock opened at $2.63 on Friday. The stock has a market cap of $3.73 million, a PE ratio of -0.49 and a beta of 9.60. Sono Group has a 12 month low of $2.37 and a 12 month high of $27.73.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on shares of Sono Group in a report on Friday, August 7th. They set a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Insider Buying and Selling at Sono Group

In related news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $3.24, for a total value of $65,094.84. Following the completion of the sale, the insider owned 157,326 shares in the company, valued at $509,736.24. The trade was a 11.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.00% of the company’s stock.

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.