Phoenix Holdings Ltd. bought a new stake in Sonim Technologies Inc (NASDAQ:SONM) during the second quarter, Holdings Channel.com reports. The fund bought 3,568,682 shares of the company’s stock, valued at approximately $2,714,000. Phoenix Holdings Ltd. owned approximately 0.17% of Sonim Technologies at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SONM. State Street Corp grew its position 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 valued at $60,000 after buying an additional 33,425 shares during the last quarter. UBS Group AG boosted its stake in Sonim Technologies by 547.7% during the 4th quarter. UBS Group AG now owns 18,776 shares of the company’s stock worth $68,000 after purchasing an additional 15,877 shares during the period. Private Advisors LLC boosted its stake in Sonim Technologies by 18.3% during the 1st quarter. Private Advisors LLC now owns 174,943 shares of the company’s stock worth $122,000 after purchasing an additional 27,000 shares during the period. Bank of New York Mellon Corp acquired a new stake in Sonim Technologies during the 4th quarter worth $166,000. Finally, Geode Capital Management LLC boosted its stake in Sonim Technologies by 79.0% during the 4th quarter. Geode Capital Management LLC now owns 74,054 shares of the company’s stock worth $268,000 after purchasing an additional 32,672 shares during the period. 41.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SONM stock traded down $0.02 during mid-day trading on Thursday, hitting $0.94. The stock had a trading volume of 15,315 shares, compared to its average volume of 1,636,858. Sonim Technologies Inc has a fifty-two week low of $0.50 and a fifty-two week high of $8.84. The firm has a market cap of $20.55 million, a PE ratio of -0.66 and a beta of 3.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.26 and a quick ratio of 1.73. The company’s 50-day simple moving average is $0.91 and its 200-day simple moving average is $1.32.
Sonim Technologies (NASDAQ:SONM) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.07. Sonim Technologies had a negative net margin of 40.31% and a negative return on equity of 111.32%. On average, analysts expect that Sonim Technologies Inc will post -0.93 EPS for the current year.
In related news, 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 price of $0.75 per share, for a total transaction of $150,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert L. Tirva acquired 100,000 shares of Sonim Technologies stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $0.75 per share, with a total value of $75,000.00. The disclosure for this purchase can be found here. Insiders purchased 315,000 shares of company stock valued at $236,250 in the last quarter.
A number of analysts recently weighed in on SONM shares. Oppenheimer reiterated a “hold” rating on shares of Sonim Technologies in a research note on Friday, May 15th. Zacks Investment Research cut shares of Sonim Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, B. Riley decreased their price target on shares of Sonim Technologies from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $3.38.
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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