Herald Investment Management Ltd Exits Position in Violin Memory Inc (VMEM)

Violin Memory Inc (VMEM) : Herald Investment Management Ltd has sold out all of its stake in Violin Memory Inc during the most recent quarter, according to the disclosure filed by the company on May 25, 2016 with the SEC. The investment management company has sold out 200,000 shares of Violin Memory Inc which is valued at $84,000.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in VMEM in the latest quarter, The investment management firm added 24,694 additional shares and now holds a total of 193,035 shares of Violin Memory Inc which is valued at $60,420. Credit Suisse Ag sold out all of its stake in VMEM during the most recent quarter. The investment firm sold 49,709 shares of VMEM which is valued $15,559.Citadel Advisors boosted its stake in VMEM in the latest quarter, The investment management firm added 131,683 additional shares and now holds a total of 134,995 shares of Violin Memory Inc which is valued at $39,419.

Violin Memory Inc opened for trading at $0.58 and hit $0.6377 on the upside on Wednesday, eventually ending the session at $0.6019, with a gain of 6.01% or 0.0341 points. The heightened volatility saw the trading volume jump to 58,48,250 shares. Company has a market cap of $60 M.

On the company’s financial health, Violin Memory Inc reported $-0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 24, 2016. Analyst had a consensus of $-0.17. The company had revenue of $9.70 million for the quarter, compared to analysts expectations of $12.00 million. The company’s revenue was down -19.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Violin Memory Inc. Shares were Reiterated by Maxim Group on Mar 11, 2016 to “Hold” and Lowered the Price Target to $ 1.10 from a previous price target of $2 .

Violin Memory Inc. has developed a new class of flash-based storage solutions that are designed to bring storage performance in-line with applications servers and networks. The Company’s Flash Storage Platform and All Flash Arrays are specifically designed at each level of the system architecture to leverage the inherent capabilities of flash memory and meet the sustained performance requirements of business-critical applications virtualized environments and Big Data in the cloud and in enterprise data center. The Flash Storage Platform runs its Concerto OS 7 a single operating system with integrated continuous data protection in-line block de-duplication and compression stretch metro cluster and Logical Unit Number (LUN) mirroring as well as its suite of other Enterprise Data Services.

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