Fusion Telecommunications International, Inc. (NASDAQ:FSNN) shares were up 6.9% during trading on Friday . The stock traded as high as $3.14 and last traded at $3.08. Approximately 943,003 shares traded hands during trading, an increase of 130% from the average daily volume of 409,712 shares. The stock had previously closed at $2.88.
A number of analysts have commented on FSNN shares. Zacks Investment Research upgraded shares of Fusion Telecommunications International from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research note on Tuesday, June 27th. B. Riley reiterated a “buy” rating and issued a $3.00 price target on shares of Fusion Telecommunications International in a research note on Sunday, September 3rd. Craig Hallum reiterated a “buy” rating and issued a $5.00 price target (up previously from $3.00) on shares of Fusion Telecommunications International in a research note on Wednesday, August 30th. Finally, ValuEngine upgraded shares of Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 23rd.
The stock’s market capitalization is $69.32 million. The company’s 50 day moving average price is $1.90 and its 200 day moving average price is $1.60.
Fusion Telecommunications International (NASDAQ:FSNN) last posted its earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $38.09 million during the quarter, compared to analyst estimates of $32.47 million. On average, equities analysts expect that Fusion Telecommunications International, Inc. will post ($0.59) EPS for the current year.
In other news, major shareholder Unterberg Capital Llc sold 258,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $2.85, for a total value of $735,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 2,140,348 shares of company stock valued at $5,789,920. Company insiders own 19.10% of the company’s stock.
A hedge fund recently bought a new stake in Fusion Telecommunications International stock. B. Riley Financial Inc. purchased a new position in Fusion Telecommunications International, Inc. (NASDAQ:FSNN) during the second quarter, according to its most recent Form 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 about 0.45% of Fusion Telecommunications International as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 20.81% of the company’s stock.
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About Fusion Telecommunications International
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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