Tangoe Inc. (TNGO) Shares Down 3.8%
Tangoe Inc. (NASDAQ:TNGO)’s share price fell 3.8% on Thursday . The company traded as low as $8.13 and last traded at $8.14, with a volume of 109,907 shares. The stock had previously closed at $8.46.
A number of brokerages recently weighed in on TNGO. Roth Capital reaffirmed a “buy” rating on shares of Tangoe in a research note on Sunday, July 10th. Raymond James Financial Inc. restated a “market perform” rating on shares of Tangoe in a research note on Wednesday, April 20th. Finally, Barrington Research downgraded shares of Tangoe from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.30.
The stock’s 50 day moving average is $8.07 and its 200 day moving average is $7.94. The stock’s market capitalization is $320.96 million.
In related news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of Tangoe stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $8.00, for a total transaction of $12,720,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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