Sonim Technologies, Inc. (NASDAQ:SONM) is among the top gainers of the stock market today, skyrocketing 17.5% or (0.13 points) to $0.86 from its previous close of $0.73. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 103366 contracts so far this session. SONM shares had a relatively better volume day versus average trading capacity of 98.29 million shares, but with a 13.14 million float and a 6.07% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SONM stock indicates that the average analyst price target is $3.83 per share. This means the stock has a potential increase of 345.35% from where the SONM share price has been trading recently.
Looking at the current readings for Sonim Technologies, Inc., the two-week RSI stands at 25.22. This figure suggests that SONM stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SONM readings is similarly very revealing as it has a stochastic reading of 11.79% at this stage. This figure means that SONM share price today is being overbought.
Technical chart claims that Sonim Technologies, Inc. (SONM) would settle between $0.7779/share to $0.824/share level. However, if the stock price goes below the $0.6679 mark, then the market for Sonim Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.604 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.0721. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer lowered their recommendation on shares of SONM from Outperform to Perform in their opinion released on October 31. B. Riley FBR, analysts launched coverage of Sonim Technologies, Inc. (NASDAQ:SONM) stock with a Buy recommendation, according to their flash note issued to investors on July 18. Analysts at National Securities released an upgrade from Neutral to Buy for the stock, in a research note that dated back to July 09.
SONM equity has an average rating of 2, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Sonim Technologies, Inc. (NASDAQ:SONM) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SONM stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 22.6. Sonim Technologies, Inc. current P/B ratio of 0.6 means it is trading at a discount against its industry’s 2.8.
Sonim Technologies, Inc. (SONM)’s current-quarter revenues are projected to climb by nearly -29.8% to hit $18.6 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -22.5% from $116250 to a noteworthy $90.05 million. At the other end of the current quarter income statement, Sonim Technologies, Inc. is expected to see its adjusted earnings surge by roughly 23.1% to hit $-0.3 per share. For the fiscal year, SONM’s earnings are projected to climb by roughly 38.8% to hit $-0.85 per share.