Sonim (SONM) closed at $0.55 in the latest trading session, marking a -1.77% move from the prior day. This move lagged the S&P 500's daily loss of 0.13%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.14%.
Prior to today's trading, shares of the company had gained 8.98% over the past month. This has outpaced the Computer and Technology sector's loss of 2.49% and the S&P 500's loss of 3.32% in that time.
Wall Street will be looking for positivity from Sonim as it approaches its next earnings report date.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sonim is holding a Zacks Rank of #3 (Hold) right now.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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