ShoreTel, Inc. (NASDAQ:SHOR) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, The Fly reports.

Other equities research analysts also recently issued research reports about the company. Northland Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of ShoreTel in a research report on Tuesday, July 4th. Zacks Investment Research downgraded ShoreTel from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, ValuEngine downgraded ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $8.25.

Shares of ShoreTel (NASDAQ SHOR) traded up 28.21% during trading on Thursday, hitting $7.50. The stock had a trading volume of 41,592,006 shares. ShoreTel has a 12-month low of $5.55 and a 12-month high of $8.56. The firm’s market cap is $512.06 million. The stock has a 50-day moving average of $5.87 and a 200 day moving average of $6.31.

ShoreTel (NASDAQ:SHOR) last issued its earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. ShoreTel had a negative return on equity of 1.15% and a negative net margin of 3.43%. The company had revenue of $87.70 million during the quarter, compared to the consensus estimate of $84.03 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that ShoreTel will post $0.06 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. RGM Capital LLC boosted its stake in shares of ShoreTel by 5.9% in the first quarter. RGM Capital LLC now owns 5,766,368 shares of the communications equipment provider’s stock worth $42,902,000 after buying an additional 322,157 shares during the last quarter. Park West Asset Management LLC boosted its stake in shares of ShoreTel by 71.4% in the first quarter. Park West Asset Management LLC now owns 5,519,822 shares of the communications equipment provider’s stock worth $33,947,000 after buying an additional 2,299,483 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of ShoreTel by 0.9% in the first quarter. Renaissance Technologies LLC now owns 3,472,684 shares of the communications equipment provider’s stock worth $21,357,000 after buying an additional 30,400 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ShoreTel by 11.6% in the first quarter. Vanguard Group Inc. now owns 3,352,212 shares of the communications equipment provider’s stock worth $20,616,000 after buying an additional 349,040 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ShoreTel by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,897,499 shares of the communications equipment provider’s stock worth $17,820,000 after buying an additional 166,986 shares during the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

About ShoreTel

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

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