Lake Street Capital Initiates Coverage on Pareteum (TEUM)

Lake Street Capital started coverage on shares of Pareteum (NYSEAMERICAN:TEUM) in a research report released on Monday, Marketbeat reports. The firm issued a buy rating and a $5.00 target price on the technology company’s stock.

Separately, Taglich Brothers assumed coverage on shares of Pareteum in a report on Tuesday, May 29th. They issued a buy rating and a $3.50 price objective on the stock.

Shares of TEUM stock opened at $2.94 on Monday. Pareteum has a 12 month low of $0.54 and a 12 month high of $3.59.

Pareteum (NYSEAMERICAN:TEUM) last issued its quarterly earnings data on Monday, August 6th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The firm had revenue of $6.00 million during the quarter, compared to analyst estimates of $4.63 million.

Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of Pareteum by 157.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 49,090 shares of the technology company’s stock valued at $123,000 after purchasing an additional 30,000 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Pareteum in the 1st quarter valued at about $123,000. Northern Trust Corp raised its stake in shares of Pareteum by 399.7% in the 1st quarter. Northern Trust Corp now owns 73,944 shares of the technology company’s stock valued at $180,000 after purchasing an additional 59,146 shares in the last quarter. Barclays PLC raised its stake in shares of Pareteum by 15,397.0% in the 1st quarter. Barclays PLC now owns 170,002 shares of the technology company’s stock valued at $415,000 after purchasing an additional 168,905 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Pareteum by 50,516.7% in the 2nd quarter. BlackRock Inc. now owns 791,139 shares of the technology company’s stock valued at $1,978,000 after purchasing an additional 789,576 shares in the last quarter.

Pareteum Company Profile

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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