In the last trading session, 2,380,468 shares of the Sonim Technologies, Inc.(NASDAQ:SONM) were traded, and its beta was 0. Most recently the company’s share price was $1.16, and it changed around -$0.11 or -0.09% from the last close, which brings the market valuation of the company to $76.75 Million. SONM currently trades at a discount to its 52-week high of $3.3, offering almost -184.48% off that amount. The share price’s 52-week low was $0.42, which indicates that the current value has risen by an impressive 63.79% since then. We note from Sonim Technologies, Inc.’s average daily trading volume that its 10-day average is 7.15 Million shares, with the 3-month average coming to 2.44 Million.
Sonim Technologies, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.3. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended SONM as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Sonim Technologies, Inc. is expected to report earnings per share of -$0.14 for the current quarter.
Sonim Technologies, Inc. (NASDAQ:SONM): Trading Information
Although SONM has showed a red trend with a performance of -8.66% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $1.7 on Tuesday, Feb 16 increased the stock’s daily price by 31.76%. The company’s shares are currently up 0.6% year-to-date, but still down -0.0169 over the last five days. On the other hand, Sonim Technologies, Inc. (NASDAQ:SONM) is 0.23% up in the 30-day period. We can see from the shorts that 327.49 Million shares have been sold at a short interest cover period of 134.22 day(s).
The consensus price target as assigned by Wall Street analysts is $2, which translates to bears needing to increase their stock price by 72.41% from its current value. Analyst projections state that SONM is forecast to be at a low of $2 and a high of $2. In order for the stock price to hit the forecast high, the stock would need to surge +72.41% from its current level, while the stock would need to crash 72.41% from its current level to reach the projected low.
Sonim Technologies, Inc. (SONM) projections and forecasts
Sonim Technologies, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +24.38 percent over the past six months and at a 31.78% annual growth rate that is well above the industry average of -0.4%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +58.8% in revenue this quarter, and will report an increase of 77.1% in the next quarter. The year-over-year growth rate is expected to be -46.1%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $14.5 Million in revenue for the current quarter. 3 analysts expect Sonim Technologies, Inc. to make $14.4 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $17.17 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -15.6%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Sonim Technologies, Inc. earnings are expected to decrease by -205.3% in 2021, but the outlook is positive 25% per year for the next five years.
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Sonim Technologies, Inc. (NASDAQ:SONM)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 10.71% of Sonim Technologies, Inc. shares, and 61.05% of them are in the hands of institutional investors. The stock currently has a share float of 68.37%. Sonim Technologies, Inc. stock is held by 41 institutions, with B. Riley Financial, Inc. being the largest institutional investor. By Sep 29, 2020, it held 17.86% of the shares, which is about 11.82 Million shares worth $9.17 Million.
AWM Investment Company, Inc., with 6.81% or 4.5 Million shares worth $3.5 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.