Zacks Investment Research downgraded shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) from a buy rating to a hold rating in a report released on Tuesday, October 17th.
According to Zacks, “Fusion Telecommunications is a provider of VoIP (Voice Over Internet Protocol) and other Internet services to, from, in and between emerging markets in Asia, the Middle East, Africa, the Caribbean and Latin America. Fusion currently provides a full suite of communications services to corporations, postal telephone and telegraph companies, international carriers, government entities, Internet service providers and consumers in over 45 countries. “
Other research analysts also recently issued reports about the stock. B. Riley reissued a buy rating and set a $3.00 target price on shares of Fusion Telecommunications International in a research report on Sunday, September 3rd. Craig Hallum reissued a buy rating and set a $5.00 target price (up from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday, August 30th. Finally, ValuEngine downgraded shares of Fusion Telecommunications International from a hold rating to a sell rating in a report on Monday, October 2nd.
Fusion Telecommunications International (FSNN) traded down $0.04 during midday trading on Tuesday, hitting $2.47. The company had a trading volume of 103,738 shares, compared to its average volume of 257,584. The company has a debt-to-equity ratio of 21.55, a quick ratio of 0.49 and a current ratio of 0.49.
Fusion Telecommunications International (NASDAQ:FSNN) last released its earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative net margin of 10.47% and a negative return on equity of 202.95%. The firm had revenue of $38.09 million during the quarter, compared to the consensus estimate of $32.47 million. analysts forecast that Fusion Telecommunications International will post -0.59 earnings per share for the current fiscal year.
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In other Fusion Telecommunications International news, major shareholder Unterberg Capital Llc sold 477,948 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $3.26, for a total value of $1,558,110.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Asa Apptix sold 699,755 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $2.75, for a total transaction of $1,924,326.25. Following the completion of the sale, the insider now owns 2,510,012 shares in the company, valued at $6,902,533. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,204,017 shares of company stock valued at $8,786,629. 19.10% of the stock is owned by insiders.
A hedge fund recently bought a new stake in Fusion Telecommunications International stock. B. Riley Financial Inc. bought a new position in Fusion Telecommunications International, Inc. (NASDAQ:FSNN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 100,000 shares of the Wireless communications provider’s stock, valued at approximately $145,000. B. Riley Financial Inc. owned approximately 0.45% of Fusion Telecommunications International at the end of the most recent reporting period. 20.39% of the stock is owned by institutional investors.
About Fusion Telecommunications International
Fusion Telecommunications International, Inc is a United States-based provider of integrated cloud solutions, including cloud voice, cloud connectivity, cloud infrastructure, cloud computing, and managed cloud-based applications to businesses, and voice over Internet Protocol (VoIP)-based voice services to carriers.
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