Brokerages Set Sonim Technologies Inc (NASDAQ:SONM) Target Price at $3.38

Sonim Technologies Inc (NASDAQ:SONM) has been assigned an average rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $3.38.

Several equities analysts have recently issued reports on SONM shares. Oppenheimer restated a “hold” rating on shares of Sonim Technologies in a report on Friday, May 15th. Zacks Investment Research upgraded shares of Sonim Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. B. Riley cut their price objective on shares of Sonim Technologies from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Lake Street Capital dropped their target price on Sonim Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, National Securities lowered Sonim Technologies to a “hold” rating and set a $2.50 target price on the stock. in a research report on Wednesday, March 11th.

In other news, CFO Robert L. Tirva acquired 100,000 shares of Sonim Technologies stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $0.75 per share, with a total value of $75,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Wiley Wilkinson acquired 200,000 shares of Sonim Technologies stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $0.75 per share, with a total value of $150,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 315,000 shares of company stock worth $236,250 in the last quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royce & Associates LP acquired a new stake in shares of Sonim Technologies in the 4th quarter worth $31,000. Tower Research Capital LLC TRC increased its stake in shares of Sonim Technologies by 94.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,053 shares of the company’s stock worth $33,000 after acquiring an additional 4,392 shares during the last quarter. Barclays PLC increased its stake in shares of Sonim Technologies by 420.9% in the 4th quarter. Barclays PLC now owns 9,950 shares of the company’s stock worth $36,000 after acquiring an additional 8,040 shares during the last quarter. State Street Corp increased its stake in shares of Sonim Technologies by 63.1% in the 1st quarter. State Street Corp now owns 86,361 shares of the company’s stock worth $60,000 after acquiring an additional 33,425 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Sonim Technologies by 547.7% in the 4th quarter. UBS Group AG now owns 18,776 shares of the company’s stock worth $68,000 after acquiring an additional 15,877 shares during the last quarter. 41.36% of the stock is owned by hedge funds and other institutional investors.

Sonim Technologies stock traded down $0.02 during trading hours on Friday, reaching $0.82. The stock had a trading volume of 1,464,426 shares, compared to its average volume of 1,334,159. The company has a market cap of $17.52 million and a price-to-earnings ratio of -0.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.40 and a quick ratio of 0.81. The business’s 50 day moving average price is $0.91 and its 200-day moving average price is $1.97. Sonim Technologies has a 52 week low of $0.50 and a 52 week high of $14.29.

Sonim Technologies (NASDAQ:SONM) last announced its earnings results on Thursday, May 14th. The company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.23). The firm had revenue of $12.71 million during the quarter, compared to the consensus estimate of $18.00 million. Sonim Technologies had a negative return on equity of 93.18% and a negative net margin of 30.40%. On average, sell-side analysts forecast that Sonim Technologies will post -1.2 EPS for the current fiscal year.

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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Analyst Recommendations for Sonim Technologies (NASDAQ:SONM)

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