Mavenir Systems Sees Large Volume Increase Following Strong Earnings (MVNR)
Mavenir Systems (NASDAQ:MVNR) saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. Approximately 143,471 shares traded hands during mid-day trading, an increase of 94% from the previous session’s volume of 73,836 shares.The stock last traded at $12.90 and had previously closed at $12.69.
The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. The company had revenue of $33.30 million for the quarter, compared to the consensus estimate of $30.05 million. The company’s revenue for the quarter was up 29.1% on a year-over-year basis.
Separately, analysts at Deutsche Bank cut their price target on shares of Mavenir Systems from $20.00 to $18.00 in a research note on Friday, May 9th.
The stock’s 50-day moving average is $14.31 and its 200-day moving average is $14.54. The company’s market cap is $316.2 million.
Mavenir Systems, Inc, (NASDAQ:MVNR) is a provider of software-based telecommunications networking solutions.
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