Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Declines By 19.1%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 58,615 shares, a decrease of 19.1% from the January 15th total of 72,446 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 88,506 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 88,506 shares, the days-to-cover ratio is currently 0.7 days. Currently, 6.0% of the shares of the stock are sold short.

Sonim Technologies Price Performance

Shares of Sonim Technologies stock opened at $5.67 on Friday. Sonim Technologies has a one year low of $2.52 and a one year high of $61.00. The business’s 50 day simple moving average is $4.96 and its two-hundred day simple moving average is $8.68. The stock has a market capitalization of $5.83 million, a P/E ratio of -0.42 and a beta of 1.64.

Hedge Funds Weigh In On Sonim Technologies

A hedge fund recently bought a new stake in Sonim Technologies stock. XTX Topco Ltd acquired a new stake in shares of Sonim Technologies, Inc. (NASDAQ:SONM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,614 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.14% of Sonim Technologies at the end of the most recent quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.