Key Points
- Major shareholder 255 V. Ug Haftungsbes Bambino sold 20,091 Sono Group shares at an average price of $3.24, generating $65,094.84. The sale reduced its holdings by 11.32% to 157,326 shares.
- Sono Group shares opened at $2.50, down 8.4%, matching the stock’s 52-week low and well below its $27.73 high.
- Weiss Ratings initiated coverage with a “sell (D-)” rating; the sole analyst covering the stock and MarketBeat’s consensus both rate Sono Group as “Sell.”
Sono Group N.V. (NASDAQ:SSM - Get Free Report) major shareholder 255 V. Ug Haftungsbes Bambino sold 20,091 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $3.24, for a total transaction of $65,094.84. Following the completion of the sale, the insider owned 157,326 shares in the company, valued at $509,736.24. This represents a 11.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Sono Group Stock Down 8.4%
NASDAQ SSM opened at $2.50 on Thursday. Sono Group N.V. has a fifty-two week low of $2.50 and a fifty-two week high of $27.73.
Analyst Ratings Changes
Separately, Weiss Ratings initiated coverage on Sono Group in a report on Friday, August 7th. They set a "sell (d-)" rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".
View Our Latest Analysis on SSM
About Sono Group
(
Get Free Report)
Sono Group N.V. was a German mobility technology company focused on developing solar-powered transportation solutions. Through its Sono Motors business, the company worked on integrating solar technology into electric vehicles to supplement battery power and help reduce energy consumption and emissions.
Its principal project was the Sion, a planned battery-electric passenger vehicle equipped with solar panels integrated into its body. Sono also developed solar integration systems for commercial vehicles, including buses, trucks, trailers and other fleet applications, allowing existing or newly manufactured vehicles to generate supplementary electricity from sunlight.
The company was founded by Jona Christians and Laurin Hahn and was headquartered in Munich, Germany.
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