FTE Networks Inc (FTNW) CFO Purchases $23,950.00 in Stock

FTE Networks Inc (NYSEAMERICAN:FTNW) CFO David Lethem bought 5,000 shares of the stock in a transaction on Friday, November 30th. The stock was purchased at an average cost of $4.79 per share, with a total value of $23,950.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

David Lethem also recently made the following trade(s):

  • On Tuesday, November 27th, David Lethem bought 21,000 shares of FTE Networks stock. The stock was purchased at an average cost of $4.47 per share, with a total value of $93,870.00.

Shares of NYSEAMERICAN FTNW opened at $4.38 on Tuesday. FTE Networks Inc has a 52-week low of $3.25 and a 52-week high of $26.25.

FTE Networks (NYSEAMERICAN:FTNW) last announced its quarterly earnings data on Tuesday, November 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.10. The company had revenue of $92.22 million for the quarter, compared to analysts’ expectations of $89.00 million.

Several hedge funds and other institutional investors have recently made changes to their positions in FTNW. Vanguard Group Inc. boosted its position in FTE Networks by 31.9% during the 3rd quarter. Vanguard Group Inc. now owns 113,487 shares of the company’s stock worth $1,325,000 after purchasing an additional 27,425 shares during the period. Janney Montgomery Scott LLC purchased a new stake in FTE Networks during the 2nd quarter worth $845,000. Finally, BlackRock Inc. purchased a new stake in FTE Networks during the 2nd quarter worth $127,000.

Separately, Zacks Investment Research cut shares of FTE Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st.

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FTE Networks Company Profile

FTE Networks, Inc, together with its subsidiaries, offers technology-oriented solutions for smart platforms, network infrastructure, and buildings in the United States. The company operates through three segments: Infrastructure, Technology, and Staffing. It also provides telecommunications solutions, including design, engineering, installation, upgrade, repair, and maintenance of infrastructures, antennas, switching systems, and backhaul links, as well as fiber optic, copper, and coaxial cable networks used for video, data, and voice transmission.

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