Pareteum (NYSEAMERICAN:TEUM) Shares Down 5%

Pareteum Corp (NYSEAMERICAN:TEUM) was down 5% during mid-day trading on Monday . The stock traded as low as $0.43 and last traded at $0.41, approximately 1,231,949 shares traded hands during mid-day trading. A decline of 72% from the average daily volume of 4,401,410 shares. The stock had previously closed at $0.43.

Several equities analysts have recently issued reports on TEUM shares. Craig Hallum downgraded shares of Pareteum from a “buy” rating to a “hold” rating and set a $1.00 price target for the company. in a research note on Thursday, October 17th. Oppenheimer cut 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. Zacks Investment Research downgraded Pareteum from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Northland Securities restated a “market perform” rating on shares of Pareteum in a report on Monday, October 21st. Finally, Lake Street Capital lowered Pareteum from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $0.75 in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Pareteum currently has a consensus rating of “Hold” and an average target price of $4.54.

Several hedge funds and other institutional investors have recently modified their holdings of TEUM. Strs Ohio bought a new stake in Pareteum in the second quarter worth approximately $74,000. Advisor Group Inc. boosted its position in Pareteum by 40.8% in the second quarter. Advisor Group Inc. now owns 267,329 shares of the technology company’s stock worth $698,000 after purchasing an additional 77,437 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of Pareteum during the 2nd quarter worth $128,000. Ahrens Investment Partners LLC boosted its holdings in shares of Pareteum by 744.2% in the 2nd quarter. Ahrens Investment Partners LLC now owns 124,095 shares of the technology company’s stock worth $324,000 after buying an additional 109,395 shares during the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of Pareteum by 236.8% in the 2nd quarter. National Asset Management Inc. now owns 101,050 shares of the technology company’s stock worth $264,000 after buying an additional 71,050 shares during the last quarter.

About Pareteum (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.

Recommended Story: Price to Earnings Ratio (PE)

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.