Pareteum Corp (NYSEAMERICAN:TEUM) shares saw an uptick in trading volume on Tuesday . 17,717,224 shares traded hands during trading, an increase of 110% from the previous session’s volume of 8,434,778 shares.The stock last traded at $0.88 and had previously closed at $0.63.
Several research firms recently weighed in on TEUM. Zacks Investment Research downgraded Pareteum from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Oppenheimer lowered Pareteum from an “outperform” rating to a “market perform” rating and set a $4.00 price objective on the stock. in a research report on Tuesday, October 22nd. Northland Securities reaffirmed a “market perform” rating on shares of Pareteum in a report on Monday, October 21st. Craig Hallum downgraded Pareteum from a “buy” rating to a “hold” rating and set a $1.00 target price for the company. in a research report on Thursday, October 17th. Finally, Lake Street Capital lowered Pareteum from a “buy” rating to a “hold” rating and cut their price target for the company from $7.00 to $0.75 in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $4.54.
A number of institutional investors have recently made changes to their positions in the business. United Services Automobile Association purchased a new stake in shares of Pareteum in the second quarter worth approximately $39,000. Jane Street Group LLC purchased a new position in shares of Pareteum during the second quarter valued at approximately $40,000. Oppenheimer & Co. Inc. grew its holdings in Pareteum by 166.0% during the third quarter. Oppenheimer & Co. Inc. now owns 45,435 shares of the technology company’s stock worth $59,000 after buying an additional 28,355 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Pareteum during the third quarter worth $65,000. Finally, Rhumbline Advisers raised its position in Pareteum by 29.4% in the 3rd quarter. Rhumbline Advisers now owns 116,595 shares of the technology company’s stock valued at $150,000 after buying an additional 26,521 shares during the last quarter.
Pareteum Company Profile (NYSEAMERICAN:TEUM)
Pareteum Corporation operates a communications cloud services platform in Europe and internationally. Its platform provides mobility, messaging, and security services and applications, with a single-sign-on, application program interface (API), and software development suite. The company's platform hosts integrated IT/back office and core network functionality for mobile network operators, as well as for enterprises to implement and leverage mobile communications solutions on a SaaS, PaaS, or IaaS basis.
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