Mitel Networks Corp. (NASDAQ:MITL) shares hit a new 52-week low on Thursday . The stock traded as low as $5.85 and last traded at $5.86, with a volume of 311,362 shares changing hands. The stock had previously closed at $6.02.

Separately, Royal Bank Of Canada reiterated an “outperform” rating and set a $14.00 price target on shares of Mitel Networks Corp. in a research report on Monday, April 18th.

The firm’s market cap is $874.25 million. The company’s 50 day moving average is $6.47 and its 200 day moving average is $6.97.

Mitel Networks Corp. (NASDAQ:MITL) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm earned $276.80 million during the quarter, compared to analyst estimates of $281.88 million. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts anticipate that Mitel Networks Corp. will post $0.60 EPS for the current year.

Several hedge funds and institutional investors have added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY boosted its position in Mitel Networks Corp. by 6.5% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 2,033,000 shares of the company’s stock valued at $15,633,000 after buying an additional 123,700 shares in the last quarter. Sei Investments Co. boosted its position in Mitel Networks Corp. by 6.9% in the fourth quarter. Sei Investments Co. now owns 328,305 shares of the company’s stock valued at $2,525,000 after buying an additional 21,170 shares in the last quarter. Finally, Swiss National Bank acquired a new position in Mitel Networks Corp. during the fourth quarter valued at about $1,029,000.

Mitel Networks Corporation (Mitel) is a global provider of business communications and collaboration software, services and solutions. They power more than 2 billion connections every day, including over 33 million daily cloud connections. Mitel offers portfolios of business communications solutions, which are known as unified communications and collaboration (UCC).

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