Covisint Corp. (COVS) Stock Price Down 7.9%
Covisint Corp. (NASDAQ:COVS)’s share price fell 7.9% during trading on Friday . The company traded as low as $2.08 and last traded at $2.11, with a volume of 66,436 shares traded. The stock had previously closed at $2.29.
A number of research firms have recently commented on COVS. Credit Suisse Group AG reissued a “sell” rating and set a $1.75 price target on shares of Covisint Corp. in a report on Tuesday, June 7th. Zacks Investment Research raised Covisint Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 1st.
The stock’s market cap is $85.48 million. The firm has a 50 day moving average price of $2.20 and a 200 day moving average price of $2.01.
Covisint Corp. (NASDAQ:COVS) last announced its quarterly earnings data on Monday, June 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.10. The firm had revenue of $20 million for the quarter. Equities research analysts forecast 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 shares of Covisint Corp. (NASDAQ:COVS) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 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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