ShoreTel Inc. (SHOR) Trading Up 1.8%
ShoreTel Inc. (NASDAQ:SHOR) shares were up 1.8% during mid-day trading on Wednesday . The company traded as high as $8.35 and last traded at $8.34, with a volume of 504,315 shares. The stock had previously closed at $8.19.
A number of research analysts recently issued reports on SHOR shares. Zacks Investment Research raised ShoreTel from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. William Blair reaffirmed a “buy” rating on shares of ShoreTel in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $10.65.
The firm has a 50-day moving average price of $7.22 and a 200 day moving average price of $7.06. The company’s market cap is $557.24 million.
ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. During the same quarter last year, the company earned $0.12 earnings per share. The company earned $94.60 million during the quarter, compared to the consensus estimate of $90.57 million. The business’s revenue was up .4% on a year-over-year basis. Equities analysts expect that ShoreTel Inc. will post $0.01 earnings per share for the current fiscal year.
In other ShoreTel news, SVP Bharath Oruganti sold 13,125 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $8.50, for a total value of $111,562.50. Following the sale, the senior vice president now directly owns 36,724 shares in the company, valued at $312,154. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently bought a new position in ShoreTel stock. Marshall Wace LLP acquired a new position in ShoreTel Inc. (NASDAQ:SHOR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 147,646 shares of the company’s stock, valued at approximately $1,307,000. Marshall Wace LLP owned approximately 0.22% of ShoreTel at the end of the most recent reporting period.
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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