Sonim Technologies Inc (NASDAQ:SONM) Given Consensus Recommendation of “Buy” by Analysts

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Sonim Technologies Inc (NASDAQ:SONM) has been assigned an average broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company.

Brokers have set a 1 year consensus price target of $18.50 for the company, according to Zacks. Zacks has also assigned Sonim Technologies an industry rank of 16 out of 256 based on the ratings given to related companies.

SONM has been the topic of several research reports. National Securities initiated coverage on shares of Sonim Technologies in a research report on Monday. They issued a “neutral” rating and a $16.13 price target on the stock. CIBC initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 price target on the stock. 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 target on the stock. Finally, Oppenheimer initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 price target on the stock.

Shares of SONM stock traded up $0.36 during trading hours on Wednesday, hitting $17.28. The company’s stock had a trading volume of 3,567 shares, compared to its average volume of 184,065. Sonim Technologies has a twelve month low of $9.66 and a twelve month high of $18.26.

In related news, CEO Robert Plaschke sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.23, for a total transaction of $306,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Kneuer acquired 3,147 shares of Sonim Technologies stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $16.98 per share, for a total transaction 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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