GTT Communications Inc. (NYSE:GTT)’s share price shot up 1.8% during mid-day trading on Friday . The stock traded as high as $20.58 and last traded at $20.52, with a volume of 82,578 shares traded. The stock had previously closed at $20.15.

Several research firms recently issued reports on GTT. Jefferies Group restated a “buy” rating on shares of GTT Communications in a research report on Saturday, May 14th. Drexel Hamilton restated a “buy” rating on shares of GTT Communications in a research report on Tuesday, May 10th. Finally, Zacks Investment Research lowered GTT Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $33.00.

The firm has a 50 day moving average price of $20.32 and a 200 day moving average price of $17.22. The firm has a market cap of $762.57 million and a PE ratio of 25.27.

In related news, CEO Richard Calder sold 80,000 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $20.04, for a total value of $1,603,200.00. Following the sale, the chief executive officer now directly owns 1,426,444 shares in the company, valued at $28,585,937.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicola Adamo bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased at an average price of $17.99 per share, for a total transaction of $89,950.00. Following the completion of the transaction, the director now directly owns 16,308 shares of the company’s stock, valued at approximately $293,380.92. The disclosure for this purchase can be found here.

GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.

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