National Securities upgraded shares of Sonim Technologies (NASDAQ:SONM) from a neutral rating to a buy rating in a report published on Tuesday morning, Benzinga reports. The brokerage currently has $17.00 target price on the stock.
Several other brokerages have also weighed in on SONM. Lake Street Capital initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They issued a buy rating and a $19.00 price objective on the stock. CIBC initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an outperform rating and a $55.00 price objective on the stock. Finally, Oppenheimer initiated coverage on shares of Tilray in a research report on Tuesday, June 4th. They issued a market perform rating on the stock.
Shares of SONM opened at $13.39 on Tuesday. The company has a 50-day moving average of $14.22. Sonim Technologies has a fifty-two week low of $9.66 and a fifty-two week high of $18.26. The company has a debt-to-equity ratio of 21.31, a quick ratio of 0.63 and a current ratio of 1.24.
In other news, CEO Robert Plaschke sold 30,000 shares of Sonim Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.23, for a total value of $306,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Kneuer purchased 3,147 shares of Sonim Technologies stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $16.98 per share, with a total value of $53,436.06. The disclosure for this purchase can be found here.
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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