Sonim Technologies (NASDAQ:SONM) Shares Down 4.5%

Shares of Sonim Technologies, Inc. (NASDAQ:SONM) fell 4.5% during trading on Friday . The stock traded as low as $0.48 and last traded at $0.48. 42,032 shares traded hands during trading, a decline of 53% from the average session volume of 89,631 shares. The stock had previously closed at $0.50.

Sonim Technologies Stock Performance

The company’s 50-day moving average price is $0.63 and its 200 day moving average price is $0.69.

Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The firm had revenue of $13.43 million for the quarter, compared to the consensus estimate of $27.57 million. Sonim Technologies had a negative net margin of 0.10% and a negative return on equity of 0.41%. On average, analysts anticipate that Sonim Technologies, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Sonim Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Sicart Associates LLC grew its stake in Sonim Technologies by 86.9% during the third quarter. Sicart Associates LLC now owns 413,000 shares of the company’s stock valued at $277,000 after acquiring an additional 192,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Sonim Technologies during the first quarter valued at $189,000. Renaissance Technologies LLC purchased a new position in Sonim Technologies during the third quarter valued at $103,000. Geode Capital Management LLC grew its stake in Sonim Technologies by 126.0% during the second quarter. Geode Capital Management LLC now owns 167,420 shares of the company’s stock valued at $193,000 after acquiring an additional 93,343 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Sonim Technologies by 282.4% during the fourth quarter. Millennium Management LLC now owns 155,171 shares of the company’s stock valued at $66,000 after acquiring an additional 114,589 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

Sonim Technologies Company Profile

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 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.