Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Expands By 14.9%

Sonim Technologies, Inc. (NASDAQ:SONM) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 81,600 shares, a growth of 14.9% from the August 15th total of 71,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average trading volume of 58,400 shares, the days-to-cover ratio is currently 1.4 days.

Sonim Technologies Stock Performance

Sonim Technologies stock traded up $0.01 during trading on Monday, reaching $2.72. 710 shares of the company’s stock were exchanged, compared to its average volume of 30,161. The company’s 50-day moving average is $3.29 and its two-hundred day moving average is $5.22. Sonim Technologies has a 52-week low of $2.32 and a 52-week high of $10.70. The firm has a market cap of $13.16 million, a price-to-earnings ratio of -33.87 and a beta of 2.52.

Sonim Technologies (NASDAQ:SONM) last posted its earnings results on Friday, August 9th. The company reported ($1.41) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.41). The business had revenue of $11.52 million during the quarter, compared to analyst estimates of $10.91 million. Sonim Technologies had a negative return on equity of 50.00% and a negative net margin of 14.94%. Analysts anticipate that Sonim Technologies will post -2.47 EPS for the current 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, and Sonim XP Pro; Sonim mobile hotspot; industrial-grade accessories. It sells its mobile phones and accessories primarily to wireless carriers in the United States and Canada; and sells wireless carrier channels through distribution channels in North America and Europe.