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

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sonim Technologies stock. Sicart Associates LLC boosted its stake in Sonim Technologies, Inc. (NASDAQ:SONM) by 86.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,000 shares of the company’s stock after buying an additional 192,000 shares during the quarter. Sicart Associates LLC owned approximately 1.00% of Sonim Technologies worth $277,000 at the end of the most recent reporting period. 3.26% of the stock is owned by institutional investors.

Sonim Technologies Price Performance

Shares of NASDAQ:SONM traded up $0.02 during trading on Tuesday, reaching $0.53. 97,486 shares of the company’s stock traded hands, compared to its average volume of 97,983. Sonim Technologies has a fifty-two week low of $0.44 and a fifty-two week high of $1.30. The company has a 50-day simple moving average of $0.61 and a 200-day simple moving average of $0.68.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Wednesday, March 27th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Sonim Technologies had a negative net margin of 0.10% and a negative return on equity of 0.41%. The business had revenue of $13.43 million for the quarter, compared to analyst estimates of $27.57 million. As a group, equities analysts expect 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.