Covisint Corp. (COVS) Shares Down 7.9%
Shares of Covisint Corp. (NASDAQ:COVS) were down 7.9% on Friday . The stock traded as low as $2.08 and last traded at $2.11, with a volume of 66,436 shares trading hands. The stock had previously closed at $2.29.
Several analysts have recently weighed in on COVS shares. Credit Suisse Group AG reiterated a “sell” rating and issued a $1.75 price objective on shares of Covisint Corp. in a research note on Tuesday, June 7th. Zacks Investment Research upgraded shares of Covisint Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 1st.
The company’s market capitalization is $85.48 million. The firm’s 50 day moving average is $2.20 and its 200-day moving average is $2.01.
Covisint Corp. (NASDAQ:COVS) last issued its quarterly earnings results on Monday, June 6th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The business had revenue of $20 million for the quarter. Equities research analysts expect that Covisint Corp. will post ($0.29) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Covisint Corp. stock. J. Goldman & Co LP raised its position in shares of Covisint Corp. (NASDAQ:COVS) by 12.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,886,433 shares of the company’s stock after buying an additional 316,138 shares during the period. J. Goldman & Co LP owned 7.14% of Covisint Corp. worth $7,216,000 as of its most recent SEC filing.
Covisint Corporation provides cloud engagement platform for enabling organizations to securely connect, engage and collaborate with large, distributed communities of customers, business partners and suppliers. The Company’s Platform-as-a-Service offering enables global organizations to securely connect, engage and collaborate with large, extended networks of customers, business partners, suppliers and other third parties.
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