Shares of Violin Memory, Inc. (NYSE:VMEM) Take a Hit as it Transfers to OTC Markets Group, Int.

Designer and distributor or data storage, Violin Memory, Inc. (NYSE:VMEM), announces that it has qualified to trade on the OTCQX Best Market, transferring from the New York Stock Exchange (NYSE).

NEW YORK, Oct. 28, 2016 /PRNewswire/ — OTC Markets Group Inc. (OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Violin Memory, Inc. (VMEM), a company that designs and distributes data storage hardware and software, has qualified to trade on the OTCQX® Best Market. Violin Memory previously traded on the New York Stock Exchange. 

Violin Memory begins trading today on OTCQX under the symbol “VMEM.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

“Trading on OTCQX will allow Violin Memory to continue to provide an efficient and transparent public trading market for its investors,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group.  “We are pleased to welcome the company to the OTCQX market and look forward to supporting its growth.”

“Violin Memory created the all flash storage array market ten years ago and is transitioning to a full suite of flash storage software solutions to complement the company’s full range of scalable hardware to meet the ever increasing storage demands of Fortune 1000 companies,” said Ebrahim Abbasi, Chief Operating Officer of Violin Memory. “Violin’s products are uniquely suited to meet the needs of enterprise private and hybrid cloud environments. Trading on OTCQX will allow our investors to have a public trading outlet.”

About Violin Memory, Inc.

Violin Memory, the disruptive innovator in All Flash Arrays, is revolutionizing how businesses operate by enabling storage technology to Be Instrumental to their company by changing the SLAs and capabilities of private, hybrid and public cloud environments. The Flash Storage Platform™, powered by Concerto OS™, a fully integrated storage operating system, is the industry leader in the combination of every significant category measured in all flash arrays: low latency, affordability, density, scalability and performance. With tightly integrated data services, the Violin Flash Storage Platform provides a unique combination of data protection, business continuity, and data reduction services onto a flexible, uniquely scalable solution called Scale Smart™, delivering significant CAPEX and OPEX savings. Founded in 2005, Violin Memory is headquartered in Santa Clara, California. For more information, visit www.violin-memory.com.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com

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Violin Memory, Inc. (NYSE:VMEM) shares are moving -28.00% on the news today and have traded in the range of $0.17 – 0.27 during the current trading session. A number of brokerage analysts have recently weighed in on the stock, providing price target projections. The covering firms currently have a consensus one-year price target of $4.40 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $-0.43 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-2.18 per share according to First Call.

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In looking at where Violin Memory, Inc. Common Stoc is trading on a technical level, the stock is trading -71.43% away from its 50-day moving average of $0.63.  Based on the most recent available data, the equity is -97.53% off of its 52-week high of $7.28 and +8.43% away from its 52-week low which is $0.17.

Today, the stock opened at $0.26 and the last bid at the time of writing stood at $0.18.  During the session thus far, the equity dipped down to $0.17 and touched $0.27 as the high point.   has a market cap of $4.53M and has seen an average daily volume of 320,760 over the past three months.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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