Fusion Telecommunications International, Inc. (NASDAQ:FSNN)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a research note issued to investors on Tuesday. They currently have a $3.00 target price on the Wireless communications provider’s stock. B. Riley’s price objective suggests a potential upside of 23.97% from the company’s current price.
A number of other research firms have also commented on FSNN. Zacks Investment Research upgraded Fusion Telecommunications International from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Monday, September 4th. Craig Hallum restated a “buy” rating and set a $5.00 price target (up from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday, August 30th. Finally, ValuEngine lowered Fusion Telecommunications International from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd.
Fusion Telecommunications International (FSNN) traded down $0.09 during midday trading on Tuesday, reaching $2.42. The company had a trading volume of 296,700 shares, compared to its average volume of 215,110. Fusion Telecommunications International has a 1-year low of $1.11 and a 1-year high of $3.57. 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 quarterly earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. The business had revenue of $38.09 million for the quarter, compared to analyst estimates of $32.47 million. Fusion Telecommunications International had a negative return on equity of 202.95% and a negative net margin of 10.47%. analysts forecast that Fusion Telecommunications International will post -0.59 earnings per share for the current fiscal year.
In other Fusion Telecommunications International news, major shareholder Unterberg Capital Llc sold 477,948 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $3.26, for a total value of $1,558,110.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Asa Apptix sold 187,914 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $3.00, for a total value of $563,742.00. Following the completion of the transaction, the insider now owns 2,510,012 shares in the company, valued at $7,530,036. The disclosure for this sale can be found here. Insiders sold a total of 3,204,017 shares of company stock worth $8,786,629 over the last quarter. Corporate insiders own 19.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FSNN. B. Riley Financial Inc. bought a new position in Fusion Telecommunications International in the 2nd quarter valued at $145,000. Russell Investments Group Ltd. bought a new position in Fusion Telecommunications International in the 3rd quarter valued at $1,041,000. EAM Investors LLC bought a new position in Fusion Telecommunications International in the 3rd quarter valued at $575,000. FNY Partners Fund LP bought a new position in Fusion Telecommunications International in the 3rd quarter valued at $135,000. Finally, JPMorgan Chase & Co. bought a new position in Fusion Telecommunications International in the 3rd quarter valued at $162,000. Hedge funds and other institutional investors own 22.09% of the company’s stock.
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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