Zacks Investment Research upgraded shares of Sonim Technologies (NASDAQ:SONM) from a sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “Sonim Technologies Inc. provides ultra-rugged mobile phones and accessories. It provides its solutions under categories of ultra-rugged mobile phones based on the Android platform, which are capable of attaching to both public and private wireless networks; industrial-grade accessories and cloud-based software and application services. The company serves construction, energy and utility, hospitality, logistics, manufacturing, public sector and transportation sectors. Sonim Technologies Inc. is based in San Mateo, United States. “

SONM has been the subject of several other research reports. UBS Group restated an outperform rating and issued a $6.00 price objective (down previously from $18.00) on shares of Sonim Technologies in a report on Wednesday, September 11th. National Securities upgraded Sonim Technologies from a neutral rating to a buy rating and set a $17.00 price objective for the company in a report on Tuesday, July 9th. CIBC assumed coverage on Sonim Technologies in a report on Tuesday, June 4th. They issued an outperform rating and a $18.00 price objective for the company. B. Riley decreased their price objective on Sonim Technologies from $18.00 to $7.00 and set a buy rating for the company in a report on Wednesday, September 11th. Finally, Oppenheimer assumed coverage on Sonim Technologies in a report on Tuesday, June 4th. They issued an outperform rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Sonim Technologies presently has a consensus rating of Buy and a consensus price target of $13.36.

SONM opened at $3.14 on Friday. The firm has a 50-day moving average price of $7.13. Sonim Technologies has a 1 year low of $3.00 and a 1 year high of $18.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.53 and a current ratio of 2.25.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. On average, analysts expect that Sonim Technologies will post -0.54 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. bought a new position in Sonim Technologies during the second quarter worth about $28,168,000. Wasatch Advisors Inc. bought a new stake in shares of Sonim Technologies during the second quarter worth $8,113,000. BlackRock Inc. bought a new stake in shares of Sonim Technologies during the second quarter worth $2,083,000. Park West Asset Management LLC bought a new stake in shares of Sonim Technologies during the second quarter worth $1,273,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Sonim Technologies during the second quarter worth $1,210,000. Institutional investors own 46.28% of the company’s stock.

About Sonim Technologies

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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