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. “
Separately, Oppenheimer restated a “hold” rating on shares of Sonim Technologies in a report on Wednesday, June 2nd.
Sonim Technologies (NASDAQ:SONM) last released its earnings results on Tuesday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04). Sonim Technologies had a negative net margin of 46.04% and a negative return on equity of 95.56%. The business had revenue of $12.24 million during the quarter, compared to the consensus estimate of $12.50 million. Research analysts forecast that Sonim Technologies will post -0.33 earnings per share for the current year.
In other news, CFO Robert L. Tirva sold 42,891 shares of the business’s stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $0.64, for a total transaction of $27,450.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 18.59% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Sonim Technologies in the first quarter valued at approximately $25,000. Northern Trust Corp boosted its holdings in Sonim Technologies by 42.1% in the first quarter. Northern Trust Corp now owns 115,006 shares of the company’s stock valued at $94,000 after acquiring an additional 34,097 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Sonim Technologies in the first quarter valued at approximately $118,000. Geode Capital Management LLC boosted its holdings in Sonim Technologies by 264.7% in the first quarter. Geode Capital Management LLC now owns 448,396 shares of the company’s stock valued at $367,000 after acquiring an additional 325,437 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Sonim Technologies by 85.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,272,890 shares of the company’s stock valued at $922,000 after buying an additional 584,990 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.
About Sonim Technologies
Sonim Technologies, Inc engages in the design and manufacture of mission-critical smart phone-based solutions for workers in extreme, hazardous, and isolated environments. Its products include ultra-rugged mobile phones, business process applications, and a suite of industrial-grade accessories. The company was founded by Ram Chandran, Isaac Eteminan, Anush Gopalan, Jai Kumar, Sudu Srinivasan, and Joakim Wiklund on August 5, 1999 and is headquartered in Austin, TX.
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