BerganKDV Wealth Management LLC purchased a new position in shares of Pareteum Corp (NYSEAMERICAN:TEUM) during the first quarter, HoldingsChannel reports. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $228,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TEUM. Thoroughbred Financial Services LLC bought a new position in Pareteum in the 4th quarter valued at $40,000. Raymond James Financial Services Advisors Inc. bought a new position in Pareteum in the 1st quarter valued at $63,000. Ahrens Investment Partners LLC bought a new position in Pareteum in the 1st quarter valued at $67,000. Virtu Financial LLC bought a new position in Pareteum in the 4th quarter valued at $74,000. Finally, Seelaus Asset Management LLC bought a new position in Pareteum in the 4th quarter valued at $84,000.
TEUM has been the topic of a number of analyst reports. Zacks Investment Research raised Pareteum from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Maxim Group reissued a “buy” rating and issued a $7.00 price target on shares of Pareteum in a research note on Monday, March 4th. Northland Securities reissued a “buy” rating and issued a $7.50 price target on shares of Pareteum in a research note on Friday, March 1st. Oppenheimer initiated coverage on Pareteum in a research note on Friday, April 26th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, Craig Hallum initiated coverage on Pareteum in a research note on Monday, January 28th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Pareteum presently has an average rating of “Buy” and a consensus price target of $6.33.
Pareteum (NYSEAMERICAN:TEUM) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $23.04 million for the quarter, compared to the consensus estimate of $20.90 million.
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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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