Vringo Receives New Coverage from Analysts at Lake Street Capital (VRNG)
The analysts wrote, “Vringo has quickly become a key player in the IP management sector. It has parlayed its initial success against Google, using its search IP portfolio, to create a robust, diversified IP platform, with the addition of a wireless infrastructure portfolio from Nokia. Under the stewardship of a strong IP management team, we expect Vringo will continue to unlock value from its growing IP assets while being opportunistic in sourcing new IP assets.”
Vringo (NASDAQ: VRNG) opened at 2.98 on Monday. Vringo has a 1-year low of $1.52 and a 1-year high of $5.73. The stock’s 50-day moving average is currently $3.10. The company’s market cap is $239.4 million.
Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Vringo in a research note to investors on Wednesday, February 27th. They now have a $10.00 price target on the stock.
Vringo, Inc. (Vringo) is a development-stage company. The Company is engaged in developing software for mobile phones.
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