Sonim Technologies (NASDAQ:SONM) Rating Increased to Hold at Wall Street Zen

Sonim Technologies (NASDAQ:SONM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Sonim Technologies Stock Performance

NASDAQ SONM opened at $0.69 on Friday. The company has a market capitalization of $12.24 million, a PE ratio of -0.24 and a beta of 1.89. The business’s fifty day moving average is $1.01 and its 200 day moving average is $1.88. Sonim Technologies has a fifty-two week low of $0.60 and a fifty-two week high of $6.38.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.21. The business had revenue of $15.00 million for the quarter, compared to analysts’ expectations of $19.56 million. Sonim Technologies had a negative return on equity of 465.12% and a negative net margin of 52.00%. On average, sell-side analysts forecast that Sonim Technologies will post -2.34 EPS for the current year.

Insiders Place Their Bets

In other Sonim Technologies news, insider Charles Becher sold 31,326 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $1.45, for a total transaction of $45,422.70. Following the sale, the insider directly owned 62,668 shares of the company’s stock, valued at $90,868.60. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Laurence W. Lytton sold 466,402 shares of Sonim Technologies stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $1.50, for a total value of $699,603.00. Following the completion of the sale, the insider directly owned 400,514 shares in the company, valued at $600,771. This trade represents a 53.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 933,257 shares of company stock valued at $1,352,512 in the last ninety days. Insiders own 49.75% 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, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.