Sonim Technologies, Inc. (NASDAQ:SONM) Sees Large Drop in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 90,000 shares, a decrease of 23.5% from the March 31st total of 117,600 shares. Based on an average daily volume of 94,600 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the shares of the stock are sold short.

Sonim Technologies Price Performance

Shares of SONM stock traded up $0.02 during trading hours on Monday, reaching $0.51. 827,005 shares of the company were exchanged, compared to its average volume of 97,805. The stock’s fifty day moving average is $0.61 and its two-hundred day moving average is $0.68. Sonim Technologies has a fifty-two week low of $0.44 and a fifty-two week high of $1.30.

Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The company had revenue of $13.43 million for the quarter, compared to analyst estimates of $27.57 million. Sonim Technologies had a negative return on equity of 0.41% and a negative net margin of 0.10%. Sell-side analysts forecast that Sonim Technologies will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonim Technologies stock. First Foundation Advisors purchased a new stake in Sonim Technologies, Inc. (NASDAQ:SONM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 48,000 shares of the company’s stock, valued at approximately $32,000. First Foundation Advisors owned 0.12% of Sonim Technologies as of its most recent SEC filing. 3.26% of the stock is owned by institutional investors and hedge funds.

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.