SOBR Safe (NASDAQ:SOBR) Stock Price Down 10.5% – Here’s Why

Shares of SOBR Safe, Inc. (NASDAQ:SOBR) traded down 10.5% during trading on Tuesday . The company traded as low as $0.7450 and last traded at $0.8059. 142,349 shares changed hands during trading, a decline of 29% from the average daily volume of 201,369 shares. The stock had previously closed at $0.90.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of SOBR Safe from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

SOBR Safe Stock Down 10.5%

The firm has a market capitalization of $2.26 million, a PE ratio of -0.14 and a beta of 1.19. The business has a 50-day moving average price of $1.03 and a 200-day moving average price of $1.16.

SOBR Safe (NASDAQ:SOBR) last released its quarterly earnings data on Friday, April 10th. The company reported ($1.91) earnings per share for the quarter. The company had revenue of $0.14 million for the quarter. SOBR Safe had a negative return on equity of 172.71% and a negative net margin of 2,166.28%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in SOBR Safe stock. Citadel Advisors LLC acquired a new stake in SOBR Safe, Inc. (NASDAQ:SOBR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,272 shares of the company’s stock, valued at approximately $67,000. Citadel Advisors LLC owned 1.27% of SOBR Safe at the end of the most recent quarter. Hedge funds and other institutional investors own 7.93% of the company’s stock.

About SOBR Safe

SOBR Safe, Inc (NASDAQ: SOBR) is a technology company specializing in the development and commercialization of cognitive impairment monitoring solutions. The company’s flagship offerings consist of handheld breath alcohol screening devices and integrated cognitive assessment tools designed to detect impairment in real time. SOBR Safe’s product line pairs portable breathalyzers with proprietary software that captures, records and analyzes impairment data to help organizations maintain safety and compliance standards.

Founded in 2020 and headquartered in Vancouver, Canada, SOBR Safe has focused on research and development of non-invasive impairment detection technology.