In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Pareteum Corp (NYSEMKT:TEUM) reported that Empery Asset Management, Lp. has picked up 1,000,000 of common stock as of 2017-04-05.
The acquisition brings the aggregate amount owned by Empery Asset Management, Lp. to a total of 1,000,000 representing a 8.98% stake in the company.
For those not familiar with the company, Pareteum Corporation, formerly Elephant Talk Communications Corp., is an international provider of mobile networking software and services. The Company and its subsidiaries provide a mobility cloud platform, utilizing messaging and security solutions for the global mobile, mobile virtual network operator (MVNO), enterprise and Internet of things (IoT) markets. It is engaged in providing communications technology. ET Software DNA 2.0 is the Company’s intelligent mobile service platform. Its platform hosts integrated information technology (IT) or Back Office and Core Network functionality for mobile network operators (MNOs), MVNOs, and mobile virtual network enablers (MVNEs) and mobile virtual network aggregators (MVNAs) on an outsourced software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS) basis. Its virtual mobile platform solutions for MNOs and MVNOs feature Software Defined Networking and Network Functions Virtualization technologies.
A glance at Pareteum Corp (NYSEMKT:TEUM)’s key stats reveals a current market capitalization of 9.83 Million based on 12.77 Million shares outstanding and a price at last close of $0.770 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-31, Bozzo picked up 8,000 at a purchase price of $0.94. This brings their total holding to 19,036 as of the date of the filing.
On the sell side, the most recent transaction saw Carroll unload 76,241 shares at a sale price of $0.37. This brings their total holding to 642,941.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Pareteum Corp (NYSEMKT:TEUM) as things move forward to see if its progress aligns with these transactions.
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