Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Down 70.5% in June

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 15,981 shares, a drop of 70.5% from the June 15th total of 54,245 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 18,228 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sonim Technologies in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Sonim Technologies Stock Performance

NASDAQ SONM traded up $0.02 on Friday, hitting $4.05. 12,201 shares of the stock traded hands, compared to its average volume of 32,540. The firm has a market capitalization of $6.03 million, a price-to-earnings ratio of -0.30 and a beta of 1.81. Sonim Technologies has a 12 month low of $2.52 and a 12 month high of $16.97. The business’s fifty day moving average is $4.72 and its two-hundred day moving average is $4.50.

Sonim Technologies (NASDAQ:SONM) last announced its earnings results on Wednesday, April 15th. The company reported ($9.44) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Sonim Technologies

An institutional investor recently bought a new stake in Sonim Technologies stock. Potomac Capital Management Inc. purchased a new position in Sonim Technologies, Inc. (NASDAQ:SONM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,000 shares of the company’s stock, valued at approximately $151,000. Potomac Capital Management Inc. owned about 4.66% of Sonim Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 3.26% of the stock is currently owned by hedge funds and other institutional investors.

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.