Tangoe Inc. (TNGO) experienced unusually high volume on Dec. 21, as the stock gained 3.76% to a closing price of $8.82. The stock saw 794,195 shares trade hands over the course of the day on 2,275 trades. Given that the stock’s average daily volume over the last month has been 478,083 shares a day, this represents a pretty substantial spike over the norm.
Tangoe Inc. has a P/B ratio of 1.91. The stock has traded between $14.92 and $5.84 over the last 52-weeks, its 50-day SMA is now $8.01, and its 200-day SMA $10.54.
Tangoe Inc is engaged in providing connection lifecycle management software & related services to enterprises & service providers. Its matrix is an on-demand suite of software & services designed to turn on, manage, secure, & support various connections.
Headquartered in Orange, CT, Tangoe Inc. has 2,339 employees and is currently under the leadership of CEO Albert R. Subbloie.
For a complete fundamental analysis analysis of Tangoe Inc., check out Equities.com’s Stock Valuation Analysis report for TNGO. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.
THE IMPORTANCE OF THE RUSSELL 3000
The Russell 3000 is not well known outside the world of finance, but it’s one of the strongest indices out there for getting a broad sense of the stock market. Unlike the better-known Dow Jones Industrial Average or S&P 500, membership on the Russell 3000 isn’t selected by committee. It’s simply the 3,000 most valuable companies in the country.
With 3,000 stocks making up the index, it gives a broad look at the markets, including the small-and mid-cap companies that aren’t on the Dow or the S&P 500. And with a rules-based system for determining membership, there’s no bias that could potentially limit membership. That’s why many financial professionals will turn to the Russell 3000 long before the better-known indices when trying to take the temperature of the market.
All data provided by QuoteMedia and was accurate as of 4:30PM ET.