Pareteum Corp (NYSEAMERICAN:TEUM) shares gapped up before the market opened on Friday . The stock had previously closed at $0.41, but opened at $0.42. Pareteum shares last traded at $0.45, with a volume of 992,114 shares.
TEUM has been the topic of a number of recent research reports. 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. Lake Street Capital downgraded shares of Pareteum from a “buy” rating to a “hold” rating and decreased their target price for the stock from $7.00 to $0.75 in a research report on Tuesday, October 22nd. Zacks Investment Research downgraded shares of Pareteum from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Northland Securities restated a “market perform” rating on shares of Pareteum in a report on Monday, October 21st. Finally, Craig Hallum cut shares of Pareteum from a “buy” rating to a “hold” rating and set a $1.00 price target on the stock. in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Pareteum has an average rating of “Hold” and a consensus price target of $4.54.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Services Automobile Association purchased a new position in Pareteum during the 2nd quarter worth $39,000. Jane Street Group LLC bought a new stake in shares of Pareteum in the 2nd quarter worth $40,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Pareteum in the second quarter valued at about $45,000. Strs Ohio purchased a new stake in shares of Pareteum in the second quarter valued at about $74,000. Finally, Sigma Planning Corp bought a new position in shares of Pareteum during the second quarter valued at about $128,000.
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.
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