The stock of Vringo, Inc. (NASDAQ:VRNG) is a huge mover today! The stock is down 2.77% or $0.06 after the news, hitting $2.1 per share. About 298,685 shares traded hands or 32.80% up from the average. Vringo, Inc. (NASDAQ:VRNG) has declined 61.43% since July 16, 2015 and is downtrending. It has underperformed by 51.71% the S&P500. The move comes after 5 months negative chart setup for the $32.78 million company. It was reported on Feb, 22 by Barchart.com. We have $1.83 PT which if reached, will make NASDAQ:VRNG worth $4.26M less.
Analysts await Vringo, Inc. (NASDAQ:VRNG) to reports earnings on March, 21.
According to Zacks Investment Research, “Vringo, Inc. provides a platform that allows users to create, download and share mobile entertainment content in the form of video ringtones for mobile phones. Its solution, which encompasses a suite of mobile and PC-based tools, enables users to create, download and share video ringtones with ease, and provides its business partners with a consumer-friendly and easy-to-integrate monetization platform. The Company is based in New York, New York.”
The institutional sentiment decreased to 0.29 in 2015 Q3. Its down 0.34, from 0.63 in 2015Q2. The ratio worsened, as 15 funds sold all Vringo, Inc. shares owned while 16 reduced positions. 3 funds bought stakes while 6 increased positions. They now own 7.91 million shares or 35.66% less from 12.29 million shares in 2015Q2.
Leisure Capital Management holds 0.37% of its portfolio in Vringo, Inc. for 609,500 shares. Stone Ridge Asset Management Llc owns 13,300 shares or 0.03% of their US portfolio. Moreover, Matlinpatterson Global Advisers Llc has 0.01% invested in the company for 100,000 shares. The New York-based American International Group Inc has invested 0% in the stock. Bank Of America Corp De, a North Carolina-based fund reported 9,000 shares.
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