Sonim Technologies (NASDAQ:SONM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Sonim Technologies (NASDAQ:SONM) from a buy rating to a hold rating in a research note published on Saturday, 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. “

Other analysts also recently issued research reports about the stock. Lake Street Capital initiated coverage on shares of Sonim Technologies in a report on Tuesday, June 4th. They set a buy rating and a $19.00 price objective on the stock. CIBC assumed coverage on shares of Sonim Technologies in a report on Tuesday, June 4th. They set an outperform rating and a $18.00 price objective on the stock. Oppenheimer assumed coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They set an outperform rating and a $18.00 target price for the company. UBS Group restated an outperform rating and set a $6.00 target price (down previously from $18.00) on shares of Sonim Technologies in a research report on Wednesday, September 11th. Finally, National Securities upgraded shares of Sonim Technologies from a neutral rating to a buy rating and set a $17.00 target price for the company in a research report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Sonim Technologies currently has an average rating of Buy and a consensus target price of $13.36.

SONM stock opened at $3.33 on Friday. Sonim Technologies has a 52 week low of $3.25 and a 52 week high of $18.26. The business’s 50-day moving average is $7.64. The company has a current ratio of 2.25, a quick ratio of 1.53 and a debt-to-equity ratio of 0.37.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $43.75 million for the quarter, compared to analysts’ expectations of $42.60 million. On average, equities analysts predict that Sonim Technologies will post -0.54 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in Sonim Technologies during the second quarter worth about $175,000. Northern Trust Corp acquired a new position in Sonim Technologies during the second quarter worth about $255,000. Jane Street Group LLC acquired a new position in Sonim Technologies during the second quarter worth about $259,000. Cubist Systematic Strategies LLC acquired a new position in Sonim Technologies during the second quarter worth about $424,000. Finally, Vanguard Group Inc. acquired a new position in Sonim Technologies during the second quarter worth about $1,093,000. Institutional investors own 46.28% of the company’s stock.

Sonim Technologies Company Profile

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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