Sono Group N.V. (NASDAQ:SSM) Shares Shorted: Short Interest Down 71.1% in October

Sono Group N.V. (NASDAQ:SSM) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 37,609 shares, a drop of 71.1% from the September 30th total of 130,348 shares. Based on an average trading volume of 7,617,896 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Sono Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Sell rating. According to MarketBeat, Sono Group currently has a consensus rating of “Sell”.

Sono Group Stock Performance

SSM stock opened at $1.07 on Friday. Sono Group has a 12-month low of $1.05 and a 12-month high of $10.54. The firm’s 50-day moving average price is $1.86. The stock has a market capitalization of $1.52 million, a P/E ratio of -0.20 and a beta of 9.58.

Sono Group (NASDAQ:SSM) last released its quarterly earnings results on Friday, August 14th. The company reported ($1.59) earnings per share for the quarter.

Insider Transactions at Sono Group

In other Sono Group news, major shareholder 255 V. V Ug Haftungsbes Bambino sold 20,091 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $3.24, for a total value of $65,094.84. Following the completion of the sale, the insider owned 157,326 shares in the company, valued at approximately $509,736.24. The trade was a 11.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 35,501 shares of company stock valued at $118,426 in the last three months. Corporate insiders own 19.00% of the company’s stock.

About Sono Group

Sono Group N.V. was a German mobility technology company focused on integrating solar technology into vehicles. Through its Sono Motors operations, the company developed solar body-panel systems designed to generate electricity and supplement conventional or electric vehicle power systems.

Its principal development project was the Sion, a solar-assisted electric passenger vehicle intended for the European market. Sono also pursued commercial applications for its technology, including solar retrofit systems for buses, trucks and other fleet vehicles.