Tangoe, Inc. (NASDAQ:TNGO) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 772,486 shares, a decline of 36.9% from the January 13th total of 1,223,512 shares. Based on an average trading volume of 276,012 shares, the short-interest ratio is presently 2.8 days. Approximately 3.5% of the company’s shares are sold short.
Shares of Tangoe (NASDAQ:TNGO) opened at 6.54 on Tuesday. The company has a 50-day moving average of $7.50 and a 200 day moving average of $8.26. Tangoe has a 12-month low of $5.32 and a 12-month high of $10.39. The company’s market cap is $257.87 million.
A number of large investors have recently modified their holdings of TNGO. LMR Partners LLP acquired a new stake in shares of Tangoe during the third quarter valued at $149,000. Comerica Bank increased its stake in shares of Tangoe by 6.4% in the fourth quarter. Comerica Bank now owns 24,812 shares of the company’s stock valued at $199,000 after buying an additional 1,496 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Tangoe during the fourth quarter valued at $228,000. Citadel Advisors LLC increased its stake in shares of Tangoe by 17.0% in the third quarter. Citadel Advisors LLC now owns 30,628 shares of the company’s stock valued at $253,000 after buying an additional 4,446 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Tangoe during the second quarter valued at $540,000. 59.22% of the stock is owned by institutional investors and hedge funds.
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Tangoe, Inc is a provider of information technology (IT) and Telecom Expense Management (TEM) software and related services. The Company offers its services to a range of global enterprises and service providers. Its products and solutions include mobility, telecom, cloud, IT expense, strategic consulting and mobility as a service (MaaS).
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