Shares of ShoreTel Inc. (NASDAQ:SHOR) rose 3.6% on Monday . The stock traded as high as $8.39 and last traded at $8.35, with a volume of 735,845 shares trading hands. The stock had previously closed at $8.06.

SHOR has been the subject of several recent research reports. William Blair reiterated a “buy” rating on shares of ShoreTel in a research report on Tuesday, May 24th. Zacks Investment Research upgraded ShoreTel from a “sell” rating to a “hold” rating in a research report on Saturday, September 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.25.

The firm’s market capitalization is $557.99 million. The company’s 50-day moving average price is $7.97 and its 200 day moving average price is $7.16.

ShoreTel (NASDAQ:SHOR) last issued its earnings results on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $90.57 million. ShoreTel had a positive return on equity of 2.31% and a negative net margin of 1.32%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. Analysts expect that ShoreTel Inc. will post $0.01 EPS for the current year.

In related news, SVP Bharath Oruganti sold 13,125 shares of ShoreTel stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $8.50, for a total transaction of $111,562.50. Following the sale, the senior vice president now owns 36,724 shares of the company’s stock, valued at approximately $312,154. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of SHOR. KCG Holdings Inc. increased its stake in shares of ShoreTel by 45.3% in the second quarter. KCG Holdings Inc. now owns 14,997 shares of the company’s stock valued at $100,000 after buying an additional 4,673 shares during the period. BlackRock Inc. increased its stake in shares of ShoreTel by 428.8% in the second quarter. BlackRock Inc. now owns 20,001 shares of the company’s stock valued at $134,000 after buying an additional 16,219 shares during the period. Princeton Alpha Management LP acquired a new stake in shares of ShoreTel during the second quarter valued at about $151,000. King Luther Capital Management Corp acquired a new stake in shares of ShoreTel during the second quarter valued at about $167,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of ShoreTel during the second quarter valued at about $180,000. 91.28% of the stock is currently owned by institutional investors.

ShoreTel Company Profile

Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.

5 Day Chart for NASDAQ:SHOR

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