Pareteum Corp (NYSEAMERICAN:TEUM) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 6,562,559 shares, a growth of ∞ from the October 15th total of 0 shares. Based on an average trading volume of 941,562 shares, the days-to-cover ratio is currently 7.0 days. Currently, 12.6% of the company’s shares are sold short.
Shares of Pareteum stock opened at $2.22 on Friday. Pareteum has a 12 month low of $0.54 and a 12 month high of $3.59.
Pareteum (NYSEAMERICAN:TEUM) last announced its earnings results on Wednesday, November 7th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $8.01 million during the quarter, compared to the consensus estimate of $8.00 million.
Institutional investors have recently made changes to their positions in the stock. Ahrens Investment Partners LLC purchased a new position in Pareteum during the 3rd quarter valued at about $107,000. Commonwealth Equity Services LLC boosted its holdings in Pareteum by 157.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 49,090 shares of the technology company’s stock valued at $123,000 after acquiring an additional 30,000 shares during the period. Bank of New York Mellon Corp raised its position in Pareteum by 142.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 48,705 shares of the technology company’s stock valued at $146,000 after purchasing an additional 28,584 shares in the last quarter. Northern Trust Corp raised its position in Pareteum by 399.7% in the 1st quarter. Northern Trust Corp now owns 73,944 shares of the technology company’s stock valued at $180,000 after purchasing an additional 59,146 shares in the last quarter. Finally, BlackRock Inc. raised its position in Pareteum by 50,516.7% in the 2nd quarter. BlackRock Inc. now owns 791,139 shares of the technology company’s stock valued at $1,978,000 after purchasing an additional 789,576 shares in the last quarter.
Separately, Lake Street Capital began coverage on Pareteum in a report on Monday, September 24th. They set a “buy” rating and a $5.00 target price for the company.
Pareteum Company Profile
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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