Sonim Technologies (NASDAQ:SONM) Lowered to “Sell” Rating by Wall Street Zen

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

Sonim Technologies Price Performance

Shares of SONM opened at $0.54 on Friday. Sonim Technologies has a 1 year low of $0.53 and a 1 year high of $6.38. The company has a 50 day simple moving average of $0.87 and a two-hundred day simple moving average of $1.52. The firm has a market cap of $9.58 million, a P/E ratio of -0.18 and a beta of 1.81.

Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.65). Sonim Technologies had a negative net margin of 53.77% and a negative return on equity of 1,627.75%. The company had revenue of $11.19 million for the quarter, compared to analysts’ expectations of $29.17 million. On average, sell-side analysts anticipate that Sonim Technologies will post -2.34 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Laurence W. Lytton sold 400,514 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $1.39, for a total value of $556,714.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Laurence W. Lytton sold 466,402 shares of the firm’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $1.50, for a total transaction of $699,603.00. Following the completion of the transaction, the insider directly owned 400,514 shares of the company’s stock, valued at approximately $600,771. This trade represents a 53.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 49.75% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonim Technologies stock. XTX Topco Ltd bought a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is currently owned by institutional investors and hedge funds.

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.