Neutral Tandem Inc surged more than 20% after an analyst upgrade and c-suite announcement this morning. It’s been trending on StockTwits for most of the day too.
Raymond James upgraded the voice services provider, known by its brand name Inteliquent, to an outperform from Market Perform. The company also announced the appointment of Kurt Abkemeier as CFO.
In the U.S., Inteliquent’s technology enables local carriers to streamline how they route local and long distance traffic, improving efficiency.
StockTwits user Brian Bolan was all over the news.
Before joining $IQNT, new CFO Abkemeier had worked as a Finance vice president at CBeyond and AirGate PCS, a regional telecommunications service provider. He had also worked as a senior sell-side research analyst at J.P. Morgan & Co, covering the telecommunications sector, according to Inteliquent.
Some investors were looking for the stock to break $13 a share, the stock’s 52-week high and, some say, a resistance level.
Others looked for a pullback to enter, but are having trouble finding one.
Via Catherine Holahan
- Investment & Company Information
- Raymond James