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

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a large 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. Based on an average daily trading volume, of 94,600 shares, the short-interest ratio is presently 1.0 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Sonim Technologies

A hedge fund recently raised its stake in Sonim Technologies stock. Sicart Associates LLC lifted its holdings in Sonim Technologies, Inc. (NASDAQ:SONM) by 86.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 413,000 shares of the company’s stock after acquiring an additional 192,000 shares during the quarter. Sicart Associates LLC owned 1.00% of Sonim Technologies worth $277,000 at the end of the most recent quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Sonim Technologies Price Performance

SONM stock traded up $0.02 during midday trading on Tuesday, reaching $0.53. The company had a trading volume of 97,486 shares, compared to its average volume of 97,983. Sonim Technologies has a 1 year low of $0.44 and a 1 year high of $1.30. The firm has a 50-day moving average price of $0.61 and a 200-day moving average price of $0.68.

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