Mitel Networks Corporation (NASDAQ:MITL) Stock Traded 7.2% Above Its 50 Day Moving Average

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Company shares are trading at $8.96 slightly over the 50 day moving average which is $8.36 and significantly higher than the 200 day moving average of $7.62. The 50 day moving average was up $0.60 and the 200 day average moved up $1.34. 73K shares changed hands by the end of trading on Tuesday. Volume was down 85.73% under the stocks average daily volume.

Short traders are more bullish on Mitel Networks Corporation of late if you look at the downtick in short interest. The company had a fall in short interest of -22.44% between September 15, 2017 and September 29, 2017. Short shares fell 335,627 over that timeframe. Days to cover decreased -1.0 to 1.0 and the short interest percentage is 0.01% as of September 29.

Here is a rundown on some insider market activity for Mitel Networks Corporation (NASDAQ:MITL). See Remarks Gregory James Hiscock sold 3,125 shares at an average price of $8.13 on Thu the 14th. That brings the See Remarks’s holdings to $49,292 as recorded in a recent Form 4 SEC filing. Peter Charbonneau, Director disclosed the sale of 32,668 shares of MITL stock. The shares were purchased at an average price of $8.02. The Director now owns $258,846 of the stock per the Form 4 SEC filing.

Director John P. Mchugh sold 8,136 shares at an average price of $8.20 on Fri the 1st. Mchugh now owns $559,519 of stock as reported to the SEC.

A few notable investment firms have updated their holdings. 1st Global Advisors, Inc. bolstered its holdings by buying 337 shares an increase of 1.4% as of 06/30/2017. 1st Global Advisors, Inc. now controls 23,658 shares valued at $174,000. The total value of its holdings increased 7.4%. As of the end of the quarter Manufacturers Life Insurance Company, The had sold a total of 3,634 shares trimming its stake by 4.6%. The value in dollars went from $544,000 to $549,000 a change of 0.9% quarter to quarter.

As of quarter end Dynamic Technology Lab Private Ltd had acquired 14,067 shares growing its position 101.2%. The value of the investment in (MITL) increased from $94,000 to $205,000 a change of $111,000 quarter over quarter. Toronto Dominion Bank augmented its investment by buying 500 shares an increase of 3.0%. Toronto Dominion Bank now holds 17,100 shares worth $126,000. The value of the position overall is up by 9.6%.

In the latest earnings report the EPS was $-1.68 and is expected to be $0.63 for the current year with 118,247,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.27 and the next full year EPS is projected to be $1.01.

Mitel Networks Corporation, launched on January 31, 2014, is a provider of business communications and collaboration software, services and solutions. The Business’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment. The Business’s product portfolio includes premises and cloud-based enterprise communications infrastructure products and solutions, unified communications and collaboration (UCC) and contact center applications and a range of service offerings..

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