Zacks Investment Research upgraded shares of Fusion Telecommunications International (NASDAQ:FSNN) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Fusion Connect, Inc. provides integrated cloud solutions to small, medium and large businesses. Its proprietary service platform provides solutions in the cloud which includes cloud voice and unified communications, contact center, cloud connectivity, cloud computing as well as additional cloud services. Fusion Connect Inc., formerly known as Fusion Telecommunications International Inc., is based in New York. “

A number of other research firms have also recently weighed in on FSNN. BidaskClub upgraded Fusion Telecommunications International from a strong sell rating to a sell rating in a report on Thursday, July 26th. Dawson James started coverage on Fusion Telecommunications International in a report on Tuesday, July 10th. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $6.50.

NASDAQ FSNN traded down $0.05 on Tuesday, reaching $2.44. The company had a trading volume of 24,308 shares, compared to its average volume of 153,209. The stock has a market cap of $197.73 million, a PE ratio of -2.28 and a beta of 1.57. Fusion Telecommunications International has a 1 year low of $2.42 and a 1 year high of $6.63. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of -4.91.

Fusion Telecommunications International (NASDAQ:FSNN) last released its quarterly earnings results on Tuesday, August 14th. The Wireless communications provider reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.15). The company had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $123.57 million. Fusion Telecommunications International had a negative return on equity of 147.98% and a negative net margin of 13.39%. Sell-side analysts anticipate that Fusion Telecommunications International will post -0.51 EPS for the current fiscal year.

In other Fusion Telecommunications International news, insider Jonathan Kaufman sold 113,334 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $3.96, for a total value of $448,802.64. Following the completion of the transaction, the insider now owns 26,061 shares in the company, valued at approximately $103,201.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Fusion Telecommunications International by 43.6% in the 1st quarter. BlackRock Inc. now owns 56,098 shares of the Wireless communications provider’s stock worth $181,000 after acquiring an additional 17,046 shares during the period. Northern Trust Corp raised its position in shares of Fusion Telecommunications International by 83.9% in the 1st quarter. Northern Trust Corp now owns 76,446 shares of the Wireless communications provider’s stock valued at $247,000 after purchasing an additional 34,880 shares in the last quarter. KEMPER Corp acquired a new position in shares of Fusion Telecommunications International in the 2nd quarter valued at approximately $357,000. Dimensional Fund Advisors LP raised its position in shares of Fusion Telecommunications International by 673.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 108,195 shares of the Wireless communications provider’s stock valued at $349,000 after purchasing an additional 94,204 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Fusion Telecommunications International in the 2nd quarter valued at approximately $2,809,000. Hedge funds and other institutional investors own 16.33% of the company’s stock.

About Fusion Telecommunications International

Fusion Connect, Inc provides integrated cloud solutions to small, medium, and large businesses. Its proprietary service platform enables the integration of solutions in the cloud, including cloud voice and unified communications, contact center, cloud connectivity, and cloud computing, as well as additional cloud services, such as storage and security.

Further Reading: Return on Investment (ROI) Defined, Explained

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