Sprint Corp. (NYSE:S) fell 6.4% during trading on Monday . The company traded as low as $4.60 and last traded at $4.68, with a volume of 33,605,350 shares. The stock had previously closed at $5.00.

A number of research firms have commented on S. Macquarie restated a “positive” rating and issued a $4.00 price target on shares of Sprint Corp. in a report on Thursday, June 2nd. Moffett Nathanson reiterated a “sell” rating on shares of Sprint Corp. in a report on Tuesday, May 3rd. Bank of America Corp. reiterated a “sell” rating and set a $2.60 price objective on shares of Sprint Corp. in a report on Monday, May 2nd. Pacific Crest reiterated a “sell” rating on shares of Sprint Corp. in a report on Sunday. Finally, Zacks Investment Research cut shares of Sprint Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, March 29th. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Sprint Corp. has an average rating of “Hold” and a consensus price target of $3.54.

The company’s 50-day moving average is $4.22 and its 200 day moving average is $3.57. The stock’s market capitalization is $17.96 billion.

Sprint Corp. (NYSE:S) last announced its quarterly earnings results on Tuesday, May 3rd. The cell phone carrier reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $8.07 billion for the quarter, compared to analysts’ expectations of $8.69 billion. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Equities analysts forecast that Sprint Corp. will post ($0.83) EPS for the current year.

Several hedge funds recently made changes to their positions in the stock. Affinity Investment Advisors LLC increased its stake in shares of Sprint Corp. by 0.8% in the fourth quarter. Affinity Investment Advisors LLC now owns 507,080 shares of the cell phone carrier’s stock worth $1,836,000 after buying an additional 4,050 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Sprint Corp. during the fourth quarter worth about $17,376,000. Morgan Stanley increased its stake in shares of Sprint Corp. by 290.0% in the fourth quarter. Morgan Stanley now owns 7,066,966 shares of the cell phone carrier’s stock worth $25,583,000 after buying an additional 5,255,020 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Sprint Corp. by 8.6% in the fourth quarter. Rhumbline Advisers now owns 512,015 shares of the cell phone carrier’s stock worth $1,853,000 after buying an additional 40,390 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Sprint Corp. by 356,228.0% in the fourth quarter. Sei Investments Co. now owns 1,108,180 shares of the cell phone carrier’s stock worth $4,012,000 after buying an additional 1,107,869 shares during the last quarter.

Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.

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