Pareteum Corp (NYSEAMERICAN:TEUM)’s share price was down 5.7% during mid-day trading on Thursday . The stock traded as low as $2.86 and last traded at $2.99, approximately 3,348,975 shares changed hands during mid-day trading. A decline of 16% from the average daily volume of 4,005,009 shares. The stock had previously closed at $3.17.

Several equities research analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Pareteum in a report on Friday, April 26th. They issued an “outperform” rating and a $7.00 target price on the stock. CIBC assumed coverage on shares of Pareteum in a report on Friday, April 26th. They issued an “outperform” rating and a $7.00 target price on the stock. Northland Securities reaffirmed a “buy” rating on shares of Pareteum in a report on Tuesday, June 18th. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, Lake Street Capital set a $7.00 target price on shares of Pareteum and gave the stock a “buy” rating in a report on Monday, July 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Pareteum currently has a consensus rating of “Buy” and an average price target of $7.70.

Pareteum (NYSEAMERICAN:TEUM) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $23.04 million for the quarter, compared to analyst estimates of $20.90 million.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ahrens Investment Partners LLC acquired a new position in Pareteum during the 1st quarter valued at about $67,000. GSA Capital Partners LLP acquired a new position in Pareteum during the 4th quarter valued at about $96,000. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Pareteum by 130.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 23,575 shares of the technology company’s stock valued at $107,000 after purchasing an additional 13,350 shares during the period. ACG Wealth acquired a new position in Pareteum during the 1st quarter valued at about $134,000. Finally, National Asset Management Inc. acquired a new position in Pareteum during the 1st quarter valued at about $137,000.

About Pareteum (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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