Fusion Telecommunications International, Inc. (FSNN) Stock Price Up 7.4%
Fusion Telecommunications International, Inc. (NASDAQ:FSNN) shares rose 7.4% during mid-day trading on Friday . The stock traded as high as $2.64 and last traded at $2.60. Approximately 529,565 shares changed hands during trading, an increase of 17% from the average daily volume of 451,452 shares. The stock had previously closed at $2.42.
FSNN has been the subject of several analyst reports. Zacks Investment Research raised shares of Fusion Telecommunications International from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Monday, September 4th. ValuEngine upgraded shares of Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a research report on Monday, August 28th. Craig Hallum restated a “buy” rating and set a $5.00 target price (up from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday, August 30th. Finally, B. Riley restated a “buy” rating and set a $3.00 target price on shares of Fusion Telecommunications International in a research report on Sunday, September 3rd.
The company’s market cap is $58.51 million. The firm has a 50-day moving average of $1.99 and a 200 day moving average of $1.63.
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 analysts’ consensus estimates of ($0.15) by $0.01. Fusion Telecommunications International had a negative net margin of 10.47% and a negative return on equity of 202.95%. The company had revenue of $38.09 million for the quarter, compared to the consensus estimate of $32.47 million. Equities research analysts anticipate that Fusion Telecommunications International, Inc. will post ($0.59) EPS for the current fiscal year.
In other Fusion Telecommunications International news, major shareholder Asa Apptix sold 176,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $2.89, for a total transaction of $508,640.00. Following the sale, the insider now directly owns 2,510,012 shares in the company, valued at approximately $7,253,934.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Unterberg Capital Llc sold 477,948 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $3.26, for a total transaction of $1,558,110.48. The disclosure for this sale can be found here. Insiders have sold a total of 3,204,017 shares of company stock worth $8,786,629 over the last 90 days. 19.10% of the stock is owned by insiders.
An institutional investor recently bought a new position in Fusion Telecommunications International stock. B. Riley Financial Inc. purchased a new position in shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the Wireless communications provider’s stock, valued at approximately $145,000. B. Riley Financial Inc. owned approximately 0.45% of Fusion Telecommunications International at the end of the most recent quarter. Hedge funds and other institutional investors own 20.81% 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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