Sonim Technologies, Inc. (NASDAQ:SONM) Short Interest Down 23.5% in April

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

Sonim Technologies Stock Performance

Sonim Technologies stock traded up $0.01 during trading hours on Friday, reaching $0.49. The stock had a trading volume of 185,824 shares, compared to its average volume of 138,365. The business’s 50 day moving average price is $0.61 and its 200-day moving average price is $0.68. Sonim Technologies has a 52 week low of $0.44 and a 52 week high of $1.30.

Sonim Technologies (NASDAQ:SONM) last issued its earnings results on Wednesday, March 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Sonim Technologies had a negative return on equity of 0.41% and a negative net margin of 0.10%. The firm had revenue of $13.43 million during the quarter, compared to analysts’ expectations of $27.57 million. Research analysts expect that Sonim Technologies will post 0.01 EPS for the current fiscal year.

Institutional Trading of Sonim Technologies

An institutional investor recently bought a new position in Sonim Technologies stock. First Foundation Advisors purchased a new position in shares of Sonim Technologies, Inc. (NASDAQ:SONM) during the 3rd quarter, according to the company in its most recent 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. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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 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.