Sonim Technologies (NASDAQ:SONM) Stock Price Down 4.5%

Sonim Technologies, Inc. (NASDAQ:SONM)’s share price traded down 4.5% on Friday . The stock traded as low as $0.48 and last traded at $0.48. 42,032 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 89,631 shares. The stock had previously closed at $0.50.

Sonim Technologies Stock Down 4.5 %

The firm’s fifty day moving average is $0.63 and its two-hundred day moving average is $0.69.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). Sonim Technologies had a negative net margin of 0.10% and a negative return on equity of 0.41%. The company had revenue of $13.43 million for the quarter, compared to the consensus estimate of $27.57 million. On average, analysts expect that Sonim Technologies, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sicart Associates LLC boosted its holdings in shares of Sonim Technologies by 86.9% during the 3rd quarter. Sicart Associates LLC now owns 413,000 shares of the company’s stock valued at $277,000 after purchasing an additional 192,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Sonim Technologies during the 1st quarter valued at about $189,000. Renaissance Technologies LLC bought a new position in shares of Sonim Technologies during the 3rd quarter valued at about $103,000. Geode Capital Management LLC boosted its holdings in shares of Sonim Technologies by 126.0% during the 2nd quarter. Geode Capital Management LLC now owns 167,420 shares of the company’s stock valued at $193,000 after purchasing an additional 93,343 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Sonim Technologies by 282.4% during the 4th quarter. Millennium Management LLC now owns 155,171 shares of the company’s stock valued at $66,000 after purchasing an additional 114,589 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

Sonim Technologies Company Profile

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, Sonim XP3plus based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.