Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Growth in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 261,500 shares, a growth of 163.1% from the May 15th total of 99,400 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 211,700 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. First Foundation Advisors bought a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,000 shares of the company’s stock, valued at approximately $32,000. First Foundation Advisors owned approximately 0.12% of Sonim Technologies as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

Sonim Technologies Stock Performance

NASDAQ SONM opened at $0.71 on Thursday. Sonim Technologies has a 52-week low of $0.44 and a 52-week high of $1.30. The stock has a market cap of $33.12 million, a PE ratio of -8.86 and a beta of 2.42. The firm has a 50-day moving average of $0.54 and a 200-day moving average of $0.64.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $16.78 million for the quarter, compared to the consensus estimate of $18.00 million. Sonim Technologies had a negative return on equity of 14.82% and a negative net margin of 3.81%. As a group, analysts predict that Sonim Technologies will post -0.21 EPS for the current fiscal year.

About Sonim Technologies

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. The company offers ruggedized mobile phones, such as Sonim XP10, Sonim XP5plus, Sonim XP3plus, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.