Pareteum Corp (NYSEAMERICAN:TEUM) gapped down prior to trading on Thursday . The stock had previously closed at $0.80, but opened at $0.81. Pareteum shares last traded at $0.75, with a volume of 163,762 shares changing hands.
Several equities analysts recently weighed in on TEUM shares. 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 report on Tuesday, October 22nd. Lake Street Capital lowered shares of Pareteum from a “buy” rating to a “hold” rating and cut their price objective for the company from $7.00 to $0.75 in a report on Tuesday, October 22nd. Zacks Investment Research lowered shares of Pareteum from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Craig Hallum lowered shares of Pareteum from a “buy” rating to a “hold” rating and set a $1.00 target price on the stock. in a report on Thursday, October 17th. Finally, Northland Securities reiterated a “market perform” rating on shares of Pareteum in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Pareteum currently has an average rating of “Hold” and an average price target of $4.54.
Institutional investors and hedge funds have recently bought and sold shares of the business. United Services Automobile Association bought a new stake in shares of Pareteum during the second quarter worth $39,000. Jane Street Group LLC bought a new stake in shares of Pareteum during the second quarter worth $40,000. Oppenheimer & Co. Inc. increased its position in shares of 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 acquiring an additional 28,355 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Pareteum during the third quarter worth $65,000. Finally, Rhumbline Advisers increased its position in shares of Pareteum by 29.4% during the third quarter. Rhumbline Advisers now owns 116,595 shares of the technology company’s stock worth $150,000 after acquiring an additional 26,521 shares in the last quarter.
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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