Craig Hallum downgraded shares of Pareteum (NYSEAMERICAN:TEUM) from a buy rating to a hold rating in a report issued on Thursday, October 17th, BenzingaRatingsTable reports. Craig Hallum currently has $1.00 price target on the technology company’s stock.
TEUM has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Pareteum from a hold rating to a buy rating and set a $1.50 price target on the stock in a report on Wednesday, October 9th. Oppenheimer lowered their price target on shares of Pareteum from $8.00 to $4.00 and set an outperform rating on the stock in a report on Monday, September 23rd. Lake Street Capital set a $7.00 target price on shares of Pareteum and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, Maxim Group set a $9.00 target price on shares of Pareteum and gave the stock a buy rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $4.54.
TEUM stock traded down $0.02 during trading on Thursday, hitting $0.45. The company had a trading volume of 4,829,747 shares, compared to its average volume of 4,513,503. Pareteum has a 52-week low of $0.29 and a 52-week high of $5.93.
Hedge funds and other institutional investors have recently modified their holdings of the company. United Services Automobile Association purchased a new position in Pareteum during the second quarter worth about $39,000. Jane Street Group LLC purchased a new position in shares of Pareteum in the second quarter valued at approximately $40,000. Oppenheimer & Co. Inc. purchased a new position in shares of Pareteum in the second quarter valued at approximately $45,000. Strs Ohio purchased a new position in shares of Pareteum in the second quarter valued at approximately $74,000. Finally, Sigma Planning Corp purchased a new position in shares of Pareteum in the second quarter valued at approximately $128,000.
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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