Sonim Technologies, Inc. (NASDAQ:SONM) Sees Significant Decline in Short Interest

Sonim Technologies, Inc. (NASDAQ:SONM) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 68,800 shares, a drop of 40.0% from the January 31st total of 114,700 shares. Based on an average daily trading volume, of 110,800 shares, the days-to-cover ratio is presently 0.6 days. Currently, 4.3% of the shares of the company are short sold.

Sonim Technologies Price Performance

Shares of NASDAQ SONM traded up $0.05 during midday trading on Friday, reaching $2.19. The company’s stock had a trading volume of 17,862 shares, compared to its average volume of 165,863. The stock has a market capitalization of $10.67 million, a P/E ratio of -0.75 and a beta of 2.41. The firm has a 50 day moving average price of $2.96 and a 200-day moving average price of $3.04. Sonim Technologies has a 12-month low of $2.00 and a 12-month high of $10.70.

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.