CounterPath (NASDAQ:CPAH) Stock Price Down 8.2%

Shares of CounterPath, Corp. (NASDAQ:CPAH) (TSE:CCV) dropped 8.2% during trading on Thursday . The company traded as low as $1.52 and last traded at $1.46. Approximately 133,781 shares changed hands during trading, a decline of 31% from the average daily volume of 193,673 shares. The stock had previously closed at $1.59.

Separately, ValuEngine cut shares of CounterPath from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

The firm has a 50 day moving average price of $1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.85.

A hedge fund recently bought a new stake in CounterPath stock. Wedbush Securities Inc. bought a new position in shares of CounterPath, Corp. (NASDAQ:CPAH) (TSE:CCV) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,000 shares of the software maker’s stock, valued at approximately $43,000. Wedbush Securities Inc. owned approximately 0.44% of CounterPath as of its most recent SEC filing. Institutional investors own 5.61% of the company’s stock.

About CounterPath (NASDAQ:CPAH)

CounterPath Corporation designs, develops, and sells software and services that enable enterprises and telecommunication service providers to deliver unified communications services over Internet protocol based networks in North America and internationally. Its products include Bria softphone suite, which enables consumers and business users to make voice over Internet protocol (VoIP) audio and video calls, send instant messages, manage their presence, share their screen, and collaborate with other users using desktop computers and laptops, smartphones, and tablets; and X-Lite, a standards-based VoIP softphone application that runs on desktop computers.

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