Tangoe Inc. (TNGO) Stock Price Down 3.8%
Tangoe Inc. (NASDAQ:TNGO)’s share price dropped 3.8% during mid-day trading on Thursday . The company traded as low as $8.13 and last traded at $8.14, with a volume of 109,907 shares traded. The stock had previously closed at $8.46.
Several equities analysts recently weighed in on TNGO shares. Barrington Research cut shares of Tangoe from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Tangoe in a research report on Wednesday, April 20th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Tangoe in a research report on Sunday, July 10th. One 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.30.
The company’s 50 day moving average is $8.07 and its 200-day moving average is $7.94. The stock’s market capitalization is $318.99 million.
In other Tangoe news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $8.00, for a total value of $12,720,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
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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