In the last trading session, 23.2 million Sonim Technologies Inc. (NASDAQ:SONM) shares changed hands as the company’s beta touched 0. With the company’s per share price at $0.56 changed hands at -$0.05 or -8.32% during last session, the market valuation stood at $46.03M. SONM’s last price was a discount, traded about -203.57% off its 52-week high of $1.70. The share price had its 52-week low at $0.36, which suggests the last value was 35.71% up since then. When we look at Sonim Technologies Inc.’s average trading volume, we note the 10-day average is 45.37 million shares, with the 3-month average coming to 7.60 million.
Analysts gave the Sonim Technologies Inc. (SONM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended SONM as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Sonim Technologies Inc.’s EPS for the current quarter is expected to be -$0.07.
Sonim Technologies Inc. (NASDAQ:SONM) trade information
Instantly SONM was in red as seen at the end of in last trading. With action 24.14%, the performance over the past five days has been green. The drop to weekly highs of 0.7346 on Monday, 09/13/21 subtracted -8.32% to the stock’s daily price. The company’s shares are showing year-to-date downside of -22.50%, with the 5-day performance at 24.14% in the green. However, in the 30-day time frame, Sonim Technologies Inc. (NASDAQ:SONM) is 33.98% up. Looking at the short shares, we see there were 0.64 million shares sold at short interest cover period of 0.11 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.00, meaning bulls need an upside of 72.0% from its current market value. According to analyst projections, SONM’s forecast low is $2.00 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -257.14% plunge from its current level, while the stock would need to soar -257.14% for it to hit the projected low.
Sonim Technologies Inc. (SONM) estimates and forecasts
Data shows that the Sonim Technologies Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -44.99% over the past 6 months, a 49.23% in annual growth rate that is considerably higher than the industry average of 13.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Sonim Technologies Inc. will rise 30.00%, while the growth in revenue is estimated to hit -20.00% for the next quarter. Year-over-year growth is forecast to reach -5.00% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $16.57 million. 3 analysts are of the opinion that Sonim Technologies Inc.’s revenue for the quarter ending Dec 2021 will be $18.73 million. The company’s revenue for the corresponding quarters a year ago was $18.17 million and $15.84 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -8.80%. The estimates for the next quarter sales put growth at 18.30%.
The 2021 estimates are for Sonim Technologies Inc. earnings to increase by 53.40%, but the outlook for the next 5-year period is at 25.00% per year.
Sonim Technologies Inc. is expected to release its next quarterly earnings report between August 10 and August 16.
Sonim Technologies Inc. (NASDAQ:SONM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.13% of Sonim Technologies Inc. shares while 36.18% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.55%. There are 36.18% institutions holding the Sonim Technologies Inc. stock share, with B. Riley Financial, Inc. the top institutional holder. As of Mar 30, 2021, the company held 15.59% of the shares, roughly 10.44 million SONM shares worth $8.56 million.
Renaissance Technologies, LLC holds the second largest percentage of outstanding shares, with 3.43% or 2.3 million shares worth $1.89 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were 180 Degree Capital Corp and Vanguard Extended Market Index Fund. With 6.05 million shares estimated at $4.96 million under it, the former controlled 9.03% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.93% of the shares, roughly 0.62 million shares worth around $0.51 million.