Qumu Corp. (NASDAQ:QUMU) dropped 5.5% on Thursday . The stock traded as low as $2.26 and last traded at $2.74, with a volume of 65,660 shares traded. The stock had previously closed at $2.90.

Separately, Zacks Investment Research lowered Qumu Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th.

The firm has a 50 day moving average of $4.03 and a 200 day moving average of $4.19. The firm’s market cap is $26.23 million.

Qumu Corp. (NASDAQ:QUMU) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.06. The company had revenue of $6.50 million for the quarter, compared to the consensus estimate of $8.86 million. Qumu Corp.’s quarterly revenue was down 25.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.75) EPS. On average, equities research analysts forecast that Qumu Corp. will post ($1.44) earnings per share for the current fiscal year.

In other Qumu Corp. news, Director Robert F. Olson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average cost of $4.05 per share, for a total transaction of $40,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Qumu Corporation (Qumu) is an enterprise video content management software company. The Company is engaged in providing tools businesses need to create, manage, secure, deliver and measure their videos. Qumu’s video platform supports both live and on-demand streaming. Its enterprise video content management software products are deployed primarily through the sale of software licenses, software on a server appliance, software-enabled devices and a cloud-based software-as-a-service (SaaS) platform.

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