Sonim Technologies (NASDAQ:SONM) Shares Up 9% – Here’s Why

Shares of Sonim Technologies, Inc. (NASDAQ:SONM) shot up 9% during trading on Monday . The company traded as high as $3.28 and last traded at $3.27. 43,336 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 78,363 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Sonim Technologies Stock Performance

The stock has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $6.40. The firm has a market cap of $3.37 million, a PE ratio of -0.24 and a beta of 1.72.

Institutional Inflows and Outflows

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

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.