Covisint Corp. (COVS) Stock Price Down 1.4%
Covisint Corp. (NASDAQ:COVS) was down 1.4% during mid-day trading on Friday . The company traded as low as $2.10 and last traded at $2.24, with a volume of 55,088 shares. The stock had previously closed at $2.21.
A number of equities research analysts have issued reports on COVS shares. Zacks Investment Research upgraded shares of Covisint Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Credit Suisse Group AG reiterated a “sell” rating and issued a $1.75 target price on shares of Covisint Corp. in a research report on Tuesday, June 7th.
The stock’s market capitalization is $91.96 million. The stock’s 50-day moving average is $2.15 and its 200 day moving average is $2.01.
Covisint Corp. (NASDAQ:COVS) last posted its quarterly earnings results on Monday, June 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. The firm had revenue of $20 million for the quarter. On average, analysts predict that Covisint Corp. will post ($0.29) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Covisint Corp. stock. J. Goldman & Co LP boosted its stake in Covisint Corp. (NASDAQ:COVS) by 12.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,886,433 shares of the company’s stock after buying an additional 316,138 shares during the period. J. Goldman & Co LP owned about 7.14% of Covisint Corp. worth $7,216,000 at the end of the most recent reporting period.
Covisint Corporation provides cloud engagement platform for enabling organizations to securely connect, engage and collaborate with large, distributed communities of customers, business partners and suppliers. The Company’s Platform-as-a-Service offering enables global organizations to securely connect, engage and collaborate with large, extended networks of customers, business partners, suppliers and other third parties.
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