Trading was light with 0 shares changing hands on Tuesday. Trading volume was down 100.00% under the stocks average daily volume.
Investors are feeling more bullish recently looking at the change in short interest. The stock realized a fall in short interest from August 31, 2017 to September 15, 2017 of -16.41%. Short interest fell from 1,074,332 to 898,033 over that period. With short interest at 898,033 and short average daily volume at 869,122, days to cover is 1.0 and the short interest percentage is 0.01% as of September 15.
Additionally, here are a few investment firms who have increased or decreased their stake in (SHOR). As of quarter end Ropes Wealth Advisors LLC had disposed of a total of 4,233 shares trimming its position 45.8%. The value of the total investment in ShoreTel, Inc. decreased from $57,000 to $29,000 a change of $28,000 quarter to quarter. Trexquant Investment Lp reduced its stake by shedding 21,321 shares a decrease of 49.4%. Trexquant Investment Lp controls 21,837 shares with a value of $127,000. The value of the position overall is down by 52.1%.
Engineers Gate Manager Lp divested its ownership by selling 6,897 shares a decrease of 15.7% as of 06/30/2017. Engineers Gate Manager Lp owns 37,170 shares worth $216,000. The total value of its holdings decreased 20.3%. As of the end of the quarter Ironbridge Capital Management Lp had sold 12,461 shares trimming its stake by 2.7%. The value of the company’s investment in ShoreTel, Inc. went from $3,301,000 to $2,763,000 a change of 16.3% for the reporting period.
On July 31 the company was downgraded to “Hold” from “Buy” in a report from Lake Street.
The company is up from yesterday’s close of $7.50. It is currently trading at $7.50 slightly over $7.48, the stock’s 50 day moving average and significantly above the 200 day moving average of $6.49. The 50 day moving average went up by +0.26% and the 200 day average moved up $1.01.
ShoreTel, Inc., launched on January 18, 2007, is a provider of business communication solutions. The Company is involved in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose. The Company provides this to the market through two solutions: ShoreTel Connect, its UC solution, and Contact Center offering and ShoreTel Summit, its platform for developers and integrators. ShoreTel Connect delivers a featured UC solution and applications, such as mobility, collaboration and workgroups. ShoreTel Connect offers three different delivery models, including cloud, onsite and hybrid. Connect Cloud provides a hosted voice solution to its customers. Connect OnSite provides its customers the ability to independently own and operate their equipment. Connect Hybrid enables its customers to use both its cloud and onsite offerings. Summit, its communications platform as a service (CPaaS) offering, delivers the option to either integrate communications into any application or workflow or to create a standalone business communications application..