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Sonim (SONM) Stock Moves -0.58%: What You Should Know
In the latest trading session, Sonim (SONM - Free Report) closed at $0.55, marking a -0.58% move from the previous day. This change was narrower than the S&P 500's 0.88% loss on the day. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, added 0.08%.
Coming into today, shares of the company had lost 9.33% in the past month. In that same time, the Computer and Technology sector lost 7.53%, while the S&P 500 lost 8.06%.
Sonim will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for Sonim. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sonim is currently sporting a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SONM in the coming trading sessions, be sure to utilize Zacks.com.