Carbonite Inc. (CARB) Plunges 5.08% on December 14

Carbonite Inc. (CARB) Plunges 5.08% on December 14

Carbonite Inc. (CARB) had a rough trading day for Friday December 14 as shares tumbled 5.08%, or a loss of $-1.37 per share, to close at $25.61. After opening the day at $26.57, shares of Carbonite Inc. traded as high as $26.87 and as low as $25.31. Volume was 302,695 shares over 3,701 trades, against an average daily volume of n/a shares and a total float of 34.56 million.

As a result of the decline, Carbonite Inc. now has a market cap of $885.03 million.

The stock has a P/E Ratio of 158.7.

Carbonite Inc is a provider of cloud and hybrid business continuity solutions. Its solutions include Carbonite Personal, which offers unlimited cloud backup for individuals, and Carbonite which offers cloud backup for small and midsize businesses, for an annual flat fee based on the amount of storage needed. Both solutions are packaged at three different service levels. The company derives revenues from subscription fees for its software-as-a-service offerings. A large majority of the firm’s revenue is generated in the United States.

Carbonite Inc. is based out of Boston, MA and has some 967 employees. Its CEO is Mohamad Ali.

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