Fusion Telecommunications International, Inc. (NASDAQ:FSNN) Cut to Hold at Zacks Investment Research

Fusion Telecommunications International, Inc. (NASDAQ:FSNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, July 12th.

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 research reports about the stock. B. Riley restated a “buy” rating and set a $3.00 price target on shares of Fusion Telecommunications International in a report on Saturday, May 13th. ValuEngine upgraded shares of Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 23rd.

Fusion Telecommunications International (NASDAQ:FSNN) remained flat at $1.25 during mid-day trading on Wednesday. The company’s stock had a trading volume of 2,894 shares. The company’s 50 day moving average price is $1.39 and its 200-day moving average price is $1.48. Fusion Telecommunications International has a 52-week low of $0.96 and a 52-week high of $2.08. The company’s market cap is $28.02 million.

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An institutional investor recently raised its position in Fusion Telecommunications International stock. United Capital Financial Advisers LLC raised its position in shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) by 256.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,929 shares of the Wireless communications provider’s stock after buying an additional 97,083 shares during the period. United Capital Financial Advisers LLC owned 0.65% of Fusion Telecommunications International worth $213,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 19.52% of the company’s stock.

Fusion Telecommunications International Company Profile

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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