Pareteum Corp (NYSEAMERICAN:TEUM)’s share price shot up 10.5% on Friday . The stock traded as high as $0.43 and last traded at $0.42, 4,617,900 shares traded hands during mid-day trading. An increase of 4% from the average session volume of 4,455,642 shares. The stock had previously closed at $0.38.
Several research firms have weighed in on TEUM. Craig Hallum lowered shares of Pareteum from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research note on Thursday, October 17th. Maxim Group set a $9.00 price objective on shares of Pareteum and gave the company a “buy” rating in a research note on Wednesday, August 7th. Northland Securities reiterated a “market perform” rating on shares of Pareteum in a research note on Monday, October 21st. Lake Street Capital lowered shares of Pareteum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $7.00 to $0.75 in a research note on Tuesday, October 22nd. Finally, Oppenheimer lowered shares of Pareteum from an “outperform” rating to a “market perform” rating and set a $4.00 price objective on the stock. in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $4.54.
Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Pareteum in the 3rd quarter valued at $257,000. Russell Investments Group Ltd. acquired a new position in Pareteum in the 3rd quarter valued at $65,000. Oppenheimer & Co. Inc. grew its stake in Pareteum by 166.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 45,435 shares of the technology company’s stock valued at $59,000 after buying an additional 28,355 shares during the last quarter. Rhumbline Advisers grew its stake 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. Finally, River & Mercantile Asset Management LLP acquired a new position in Pareteum in the 2nd quarter valued at $615,000.
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.
Recommended Story: Investing in Growth Stocks
Receive News & Ratings for Pareteum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pareteum and related companies with MarketBeat.com's FREE daily email newsletter.