Sonim Technologies Inc (NASDAQ:SONM) rose 5.4% during trading on Thursday . The company traded as high as $3.37 and last traded at $3.29, approximately 513,387 shares traded hands during mid-day trading. An increase of 216% from the average daily volume of 162,509 shares. The stock had previously closed at $3.12.

SONM has been the topic of a number of recent analyst reports. National Securities upgraded Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, July 9th. Oppenheimer initiated coverage on Sonim Technologies in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 price target on the stock. UBS Group reiterated an “outperform” rating and issued a $6.00 target price (down previously from $18.00) on shares of Sonim Technologies in a research report on Wednesday, September 11th. Zacks Investment Research cut Sonim Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Lake Street Capital initiated coverage on Sonim Technologies in a research report on Tuesday, June 4th. They issued a “buy” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $13.36.

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.25 and a quick ratio of 1.53. The stock’s 50-day moving average price is $7.30.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Wednesday, July 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The business had revenue of $43.75 million during the quarter, compared to analysts’ expectations of $42.60 million. As a group, equities analysts expect that Sonim Technologies Inc will post -0.54 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SONM. Calamos Advisors LLC bought a new position in Sonim Technologies in the second quarter valued at about $1,160,000. Wasatch Advisors Inc. bought a new position in Sonim Technologies in the second quarter valued at about $8,113,000. Russell Investments Group Ltd. bought a new position in Sonim Technologies in the second quarter valued at about $1,210,000. B. Riley Financial Inc. bought a new position in Sonim Technologies in the second quarter valued at about $28,168,000. Finally, Northern Trust Corp bought a new position in Sonim Technologies in the second quarter valued at about $255,000. Hedge funds and other institutional investors own 46.28% of the company’s stock.

Sonim Technologies Company Profile (NASDAQ:SONM)

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 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.

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