Trading was light with 0 shares changing hands by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 100.00% under the normal average daily volume.
Investors are a little more bullish on ShoreTel, Inc. of late at least if you consider the downtick in short interest. The company had a fall in short interest of -16.41% as of September 15, 2017 from the last reporting period. Short shares decreased 176,299 over that timeframe. Days to cover decreased -1.0 to 1.0 and the short interest percentage is 0.01% as of September 15.
A few notable investment firms have updated their holdings. Ropes Wealth Advisors LLC divested its position by selling 4,233 shares a decrease of 45.8% in the quarter. Ropes Wealth Advisors LLC owns 5,000 shares worth $29,000. The total value of its holdings decreased 49.1%. Trexquant Investment Lp downsized its investment by shedding 21,321 shares a decrease of 49.4% as of 06/30/2017. Trexquant Investment Lp currently owns 21,837 shares valued at $127,000. The value of the position overall is down by 52.1%.
As of the end of the quarter Engineers Gate Manager Lp had disposed of 6,897 shares trimming its position 15.7%. The value in dollars went from $271,000 to $216,000 decreasing 20.3% for the reporting period. As of quarter end Ironbridge Capital Management Lp had sold a total of 12,461 shares trimming its holdings by 2.7%. The value of the company’s investment in ShoreTel, Inc. decreased from $3,301,000 to $2,763,000 a change of $538,000 since the last quarter.
On July 31 the company was downgraded from “Buy” to “Hold” in a statement from Lake Street.
In the market the company is trading up from yesterday’s close of $7.50. Shares last traded at $7.50 just above $7.48, the stock’s 50 day moving average and a great deal higher than 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..