Tangoe Inc. (TNGO) Stock Price Down 1.2%
Tangoe Inc. (NASDAQ:TNGO) was down 1.2% during mid-day trading on Monday . The company traded as low as $7.90 and last traded at $7.98, with a volume of 65,972 shares traded. The stock had previously closed at $8.08.
A number of equities research analysts have issued reports on TNGO shares. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Tangoe in a research report on Wednesday, April 20th. Barrington Research cut Tangoe from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Tangoe in a research report on Sunday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.30.
The firm’s market capitalization is $315.05 million. The firm’s 50 day moving average is $8.06 and its 200-day moving average is $7.94.
In related news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of Tangoe stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $8.00, for a total value of $12,720,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Tangoe, Inc (Tangoe) is a global provider of connection lifecycle management (CLM), software and services to a range of enterprises and service providers. CLM covers the entire spectrum of an enterprise’s connection-based assets and services, such as voice and data services, mobile devices and usage, cloud software, infrastructure and services, machine-to-machine connections, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management (MDM), real-time telecommunications expense management (rTEM), invoice processing and payment, expense allocation and accounting, and asset decommissioning and disposal.
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