Boston, MA 06/14/2013 (wallstreetpr) – The share prices of Envivio Inc. (NASDAQ:ENVI) had surged by 11.78 percent to close at $2.18 per share for the end of last trading session on Thursday. The shares of the company had been trading in the range of $1.95 to $2.30 per share during the day. The shares of Envivio Inc. (NASDAQ:ENVI) had recorded 52 week high price level of $8.15 per share and 52 week low price level of $1.45 per share.
Richard A. Karp, one of the largest outside shareholders of Envivio Inc. (NASDAQ:ENVI) had recently announced his decision to seek membership to the Board of Directors of the company on the grounds of his sound experience in managing technology companies and had thereby submitted his nomination to the election to be held at the upcoming shareholders meeting.
Envivio Inc. (NASDAQ:ENVI) had recently reported the financial results for the first quarter of fiscal year 2014, in which the technology provider had reported revenue of $7.5 million, compared to the revenues of $7.7 million for the previous quarter. GAAP adjusted net loss for the company was reported to be $4.7 million which translates into $0.18 loss per basic and diluted share, compared to the net loss of $4.9 million for the fourth quarter of fiscal year 2013.
The non GAAP net loss of Envivio Inc. (NASDAQ:ENVI) was observed to be $4.2 million or $0.16 per share compared to $4.1 million or $0.15 loss per share for the previous quarter. Envivio Inc. (NASDAQ:ENVI) is involved in providing Internet Protocol Video Processing and distribution solutions to enable delivery of video to the consumers. The company had witnessed the trade of 973,302 shares on Thursday, while the average trading volume is at 171,556 shares per day.
Envivio Inc. (NASDAQ:ENVI) presently holds 26.94 million shares outstanding in the market with an institutional ownership of 56 percent of its holdings.
