Pareteum Corporation (NYSE:TEUM) changed -3.53% to recent value of $2.73. The stock transacted 1561638 shares during most recent day however it has an average volume of 1409.91K shares. It spotted trading -23.96% off 52-week high price. On the other end, the stock has been noted 405.56% away from the low price over the last 52-weeks.
Pareteum Corporation (NYSE:TEUM), a cloud software platform company, declared that it expects a minimum of $8 million in third quarter revenues. This represents an approximate 129% growth for the third quarter ended September 30, 2018, as compared to a year ago. Third quarter expected 2018 revenues will also represent an approximate 33% sequential growth over the second quarter of 2018, demonstrating the continuing strong increase in connections previously reported in the second quarter of 2018.
Pareteum’s customer connections, a leading indicator of revenue, are expected to exceed 2.9 million, as of September 30, 2018; this reflects the ever-growing, robust demand for Pareteum’s Global Software Defined Cloud platform services. All expected results reflect Pareteum’s performance only, and do not include results for Pareteum’s acquisition of Artilium, which was approved by the courts in London and announced on September 28, 2018.
Executive Chairman and Principal Executive Officer of Pareteum Hal Turner commented, “Pareteum continues to surge through 2018; with our expectation of superior financial and operating results for the third quarter. Our acceleration in revenues and connections proves it, and there’s more to come. We are focused on forward momentum, and it is happening as we move into the fourth quarter. Why? Because our existing customers are buying more from us and we are signing on new ones.” Turner added, “This sales performance, coupled with our daily-accelerating 36-Month Contractual Revenue Backlog conversion, provides a favorable outlook for our business, even before we complete the operational integration of our newly-acquired Artilium, which is also performing well. We are in a good place for our company.”
Pareteum’s third quarter, ended September 30, 2018, earnings and results update call is expected to be held during the week of November 5, 2018.
TEUM has a gross margin of 72.40% and an operating margin of -46.40% while its profit margin remained -58.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained 83.70% for this year.
The company has 59.61M of outstanding shares and 54.67M shares were floated in the market. According to the most recent quarter its current ratio was 3.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -4.09% from the mean of 20 days, -1.67% from mean of 50 days SMA and performed 8.68% from mean of 200 days price. Company’s performance for the week was -7.14%, -2.85% for month and YTD performance remained 31.88%.
Gabriel Smith joined the mosttradedstocks.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Wayne is the Senior Editor for mosttradedstocks.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.