Pareteum Corp (TEUM) Short Interest Update
Pareteum Corp (NYSEAMERICAN:TEUM) was the recipient of a large increase in short interest during the month of June. As of June 29th, there was short interest totalling 7,354,336 shares, an increase of 4.7% from the June 15th total of 7,026,663 shares. Based on an average trading volume of 953,367 shares, the days-to-cover ratio is currently 7.7 days. Approximately 15.3% of the shares of the stock are short sold.
Large investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in Pareteum during the 1st quarter worth about $123,000. Northern Trust Corp grew its holdings in Pareteum by 399.7% during the 1st quarter. Northern Trust Corp now owns 73,944 shares of the technology company’s stock worth $180,000 after acquiring an additional 59,146 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pareteum by 250.7% during the 4th quarter. Geode Capital Management LLC now owns 120,821 shares of the technology company’s stock worth $250,000 after acquiring an additional 86,374 shares during the last quarter. Finally, Barclays PLC grew its holdings in Pareteum by 15,397.0% during the 1st quarter. Barclays PLC now owns 170,002 shares of the technology company’s stock worth $415,000 after acquiring an additional 168,905 shares during the last quarter.
NYSEAMERICAN:TEUM traded down $0.04 during mid-day trading on Wednesday, reaching $2.39. 92,367 shares of the company were exchanged, compared to its average volume of 2,562,756. Pareteum has a 12 month low of $0.54 and a 12 month high of $3.59.
Separately, Taglich Brothers assumed coverage on shares of Pareteum in a report on Tuesday, May 29th. They set a “buy” rating and a $3.50 price objective on the stock.
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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