Tintri (NASDAQ:TNTR)’s share price traded down 16% on Thursday . The stock traded as low as $0.49 and last traded at $0.58. 2,465 shares were traded during mid-day trading, a decline of 100% from the average session volume of 2,131,181 shares. The stock had previously closed at $0.50.
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Tintri from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of Tintri from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $7.04.
The firm has a market cap of $18.47 million and a price-to-earnings ratio of -0.10.
Tintri (NASDAQ:TNTR) last released its quarterly earnings results on Monday, March 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.06. The company had revenue of $28.90 million during the quarter, compared to analysts’ expectations of $26.27 million. sell-side analysts expect that Tintri will post -2.83 earnings per share for the current fiscal year.
In other news, major shareholder Insight Holdings Group, Llc sold 645,433 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $5.54, for a total value of $3,575,698.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. purchased a new stake in shares of Tintri in the 4th quarter valued at approximately $102,000. Deutsche Bank AG raised its stake in shares of Tintri by 140.4% in the 4th quarter. Deutsche Bank AG now owns 20,915 shares of the company’s stock valued at $106,000 after acquiring an additional 12,214 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Tintri in the 4th quarter valued at approximately $150,000. Ferris Capital LLC purchased a new stake in shares of Tintri in the 4th quarter valued at approximately $157,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Tintri in the 4th quarter valued at approximately $383,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.
Tintri, Inc develops and markets an enterprise cloud platform combining cloud management software technology and a range of all-flash storage systems for virtualized and cloud environments in the United States and internationally. Its platform provides large organizations and cloud service providers with public cloud capabilities inside their data centers and public cloud services.
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