Sono Group (NASDAQ:SSM) Major Shareholder Sells 11,410 Shares of Stock

Sono Group N.V. (NASDAQ:SSM) major shareholder 255 V. Ug Haftungsbes Bambino sold 11,410 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $3.71, for a total transaction of $42,331.10. Following the transaction, the insider owned 141,916 shares of the company’s stock, valued at $526,508.36. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Sono Group Stock Performance

Shares of NASDAQ:SSM traded down $0.74 on Thursday, hitting $4.06. 110,633 shares of the company’s stock were exchanged, compared to its average volume of 315,307. Sono Group N.V. has a 1-year low of $2.35 and a 1-year high of $27.73. The stock has a market cap of $5.77 million, a P/E ratio of -0.77 and a beta of 9.46.

Sono Group (NASDAQ:SSM) last released its quarterly earnings data on Friday, August 14th. The company reported ($1.59) earnings per share (EPS) for the quarter. Sono Group had a net margin of 2,204.17% and a negative return on equity of 50.42%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Sono Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Sono Group Company Profile

Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.

Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.

The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.