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Sonim Technologies Inc [SONM] Insider Selling: Time to sell?

In a filing, Sonim Technologies Inc revealed its Director MULICA MICHAEL C unloaded Company’s shares for reported $24851.0 on Jun 21 ’24. In the deal valued at $0.69 per share,36,016 shares were sold. As a result of this transaction, MULICA MICHAEL C now holds 428,156 shares worth roughly $0.41 million.

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Then, Wang Jeffrey sold 36,016 shares, generating $24,851 in total proceeds. Upon selling the shares at $0.69, the Director now owns 274,011 shares.

Before that, Cassano James S sold 36,015 shares. Sonim Technologies Inc shares valued at $24,850 were divested by the Director at a price of $0.69 per share. As a result of the transaction, Cassano James S now holds 274,012 shares, worth roughly $0.26 million.

Oppenheimer downgraded its Sonim Technologies Inc [SONM] rating to a Perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including B. Riley FBR’s analysts, who began to cover the stock in mid July with a ‘”a Buy”‘ rating. National Securities also remained covering SONM and has increased its forecast on July 09, 2019 with a “Buy” recommendation from previously “Neutral” rating. National Securities started covering the stock on June 10, 2019. It rated SONM as “a Neutral”.

Price Performance Review of SONM

On Tuesday, Sonim Technologies Inc [NASDAQ:SONM] saw its stock fall -3.54% to $0.95. Over the last five days, the stock has lost -8.17%. Sonim Technologies Inc shares have risen nearly 29.95% since the year began. Nevertheless, the stocks have fallen -16.96% over the past one year. While a 52-week high of $1.19 was reached on 06/26/24, a 52-week low of $0.44 was recorded on 04/24/24. SMA at 50 days reached $0.6354, while 200 days put it at $0.6783. A total of 0.38 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For SONM Stock

The 24-hour chart illustrates a support level at 0.9345, which if violated will result in even more drops to 0.9140. On the upside, there is a resistance level at 0.9960. A further resistance level may holdings at 1.0370. The Relative Strength Index (RSI) on the 14-day chart is 65.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0905, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 24.95%. Stochastics%K at 82.69% indicates the stock is a selling.

The most recent change occurred on June 04, 2019 when Oppenheimer began covering the stock and recommended ‘”an Outperform”‘ rating along with a $18 price target.

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