Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Down 56.4% in April

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 31,848 shares, a drop of 56.4% from the March 31st total of 72,972 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 29,016 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies as of its most recent SEC filing. 3.26% of the stock is owned by institutional investors.

Sonim Technologies Price Performance

SONM stock opened at $4.19 on Monday. The business has a 50 day moving average price of $4.08 and a two-hundred day moving average price of $6.16. The company has a market cap of $6.24 million, a price-to-earnings ratio of -0.31 and a beta of 1.72. Sonim Technologies has a twelve month low of $2.52 and a twelve month high of $38.52.

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.