Pareteum (NYSEAMERICAN:TEUM) Trading Down 10.9%

Pareteum Corp (NYSEAMERICAN:TEUM) shares were down 10.9% during trading on Monday . The company traded as low as $0.68 and last traded at $0.74, approximately 11,222,845 shares were traded during mid-day trading. An increase of 181% from the average daily volume of 3,997,101 shares. The stock had previously closed at $0.83.

A number of research analysts have recently commented on TEUM shares. Maxim Group set a $9.00 price objective on Pareteum and gave the company a “buy” rating in a report on Wednesday, August 7th. Northland Securities reiterated a “hold” rating on shares of Pareteum in a report on Monday. Craig Hallum downgraded Pareteum from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a report on Thursday. Zacks Investment Research downgraded Pareteum from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Lake Street Capital set a $7.00 price objective on Pareteum and gave the company a “buy” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $5.43.

Pareteum (NYSEAMERICAN:TEUM) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $34.15 million during the quarter, compared to analyst estimates of $27.31 million.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. United Services Automobile Association acquired a new stake in shares of Pareteum in the 2nd quarter valued at about $39,000. Jane Street Group LLC acquired a new stake in shares of Pareteum in the 2nd quarter valued at about $40,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Pareteum in the 2nd quarter valued at about $45,000. Strs Ohio acquired a new stake in shares of Pareteum in the 2nd quarter valued at about $74,000. Finally, Sigma Planning Corp acquired a new stake in shares of Pareteum in the 2nd quarter valued at about $128,000.

Pareteum Company Profile (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.

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