Tangoe Inc. (TNGO) Reaches New 52-Week High at $9.71
Shares of Tangoe Inc. (NASDAQ:TNGO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.71 and last traded at $9.49, with a volume of 29,326 shares traded. The stock had previously closed at $9.34.
A number of brokerages have issued reports on TNGO. Roth Capital reiterated a “buy” rating on shares of Tangoe in a research note on Sunday, July 10th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Tangoe in a research note on Wednesday, April 20th. Finally, Barrington Research lowered shares of Tangoe from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.38.
The stock’s market cap is $375.77 million. The firm has a 50 day moving average price of $8.26 and a 200-day moving average price of $8.01.
In other Tangoe news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of the firm’s stock in a transaction dated 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 can be accessed through 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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