Monitise Share Price Remains Level on Monday
While there was no gain, Monitise (MONI) began this week following on the positive trend from last week. The shares opened Monday at 31.75p and wavered around the 31.5p mark for most of the day.
However, early in the afternoon the shares started gaining and reached a high of 32.75p before closing at the same price as opening, 31.75p.
In their latest assessment Canaccord Genuity reiterated their ‘Buy’ position on Monitise shares and set a target price of 85p. It seems that investors are following this advice, on Monday 80.23% of Monitise shares traded were bought while just 19.77% were sold.
The company has seen a slight reversal in its fortunes since reports surfaced that IBM is considering extending their partnership and buying the company. While the reports are unconfirmed, investors are clearly taking them to heart.