Sonim Technologies (NASDAQ:SONM) Stock Price Up 5.9% – Here’s Why

Shares of Sonim Technologies, Inc. (NASDAQ:SONM) rose 5.9% during trading on Thursday . The stock traded as high as $3.22 and last traded at $3.21. Approximately 32,101 shares traded hands during trading, a decline of 46% from the average daily volume of 58,923 shares. The stock had previously closed at $3.03.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sonim Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sonim Technologies currently has a consensus rating of “Sell”.

Sonim Technologies Price Performance

The firm has a fifty day simple moving average of $6.57 and a 200-day simple moving average of $10.49. The firm has a market cap of $3.31 million, a P/E ratio of -0.24 and a beta of 1.57.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Friday, October 31st. The company reported ($3.86) EPS for the quarter, missing the consensus estimate of $5.40 by ($9.26). Sonim Technologies had a negative net margin of 56.48% and a negative return on equity of 1,627.75%. The firm had revenue of $16.21 million for the quarter, compared to the consensus estimate of $34.34 million. On average, equities analysts predict that Sonim Technologies, Inc. will post -2.34 earnings per share for the current year.

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) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned approximately 0.14% of Sonim Technologies at the end of the most recent quarter. Institutional investors and hedge funds 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.