Short Interest in Sonim Technologies, Inc. (NASDAQ:SONM) Drops By 18.9%

Sonim Technologies, Inc. (NASDAQ:SONM) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 51,000 shares, a decline of 18.9% from the June 30th total of 62,900 shares. Based on an average daily volume of 54,300 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.2% of the company’s shares are sold short.

Sonim Technologies Price Performance

Shares of SONM stock traded up $0.04 during trading hours on Monday, hitting $3.49. The company had a trading volume of 24,913 shares, compared to its average volume of 29,825. The company’s fifty day moving average is $6.15 and its 200 day moving average is $6.19. Sonim Technologies has a fifty-two week low of $3.24 and a fifty-two week high of $10.70. The stock has a market capitalization of $16.30 million, a PE ratio of -43.62 and a beta of 2.57.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.40). Sonim Technologies had a negative return on equity of 14.82% and a negative net margin of 3.81%. The company had revenue of $16.78 million during the quarter, compared to analyst estimates of $18.00 million. Equities analysts forecast that Sonim Technologies will post -2.13 earnings per share for the current year.

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, 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.