ShoreTel Inc. (SHOR) Trading 2.7% Higher
ShoreTel Inc. (NASDAQ:SHOR) shares traded up 2.7% on Monday . The company traded as high as $7.56 and last traded at $7.54, with a volume of 204,051 shares changing hands. The stock had previously closed at $7.34.
A number of research analysts have weighed in on the stock. William Blair reaffirmed a “buy” rating on shares of ShoreTel in a research report on Saturday, July 9th. Zacks Investment Research raised shares of ShoreTel from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.65.
The stock’s 50 day moving average price is $7.02 and its 200-day moving average price is $7.06. The stock has a market cap of $497.41 million and a P/E ratio of 618.33.
A number of large investors recently made changes to their positions in SHOR. Dimensional Fund Advisors LP boosted its stake in shares of ShoreTel by 16.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,793 shares of the company’s stock worth $14,185,000 after buying an additional 232,040 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of ShoreTel by 0.5% in the fourth quarter. State of Wisconsin Investment Board now owns 547,481 shares of the company’s stock worth $4,845,000 after buying an additional 2,915 shares during the last quarter. P.A.W. Capital Corp boosted its stake in shares of ShoreTel by 13.3% in the fourth quarter. P.A.W. Capital Corp now owns 170,000 shares of the company’s stock worth $1,505,000 after buying an additional 20,000 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of ShoreTel by 212.9% in the fourth quarter. Nationwide Fund Advisors now owns 149,582 shares of the company’s stock worth $1,324,000 after buying an additional 101,772 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of ShoreTel during the fourth quarter worth about $1,307,000.
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.
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