Sprint Short Interest Up 15.6% in April (S)
Shares of Sprint (NYSE:S) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 74,211,344 shares, an increase of 15.6% from the April 15th total of 64,215,432 shares, StockRatingsNetwork reports. Approximately 9.6% of the shares of the company are sold short. Based on an average daily trading volume, of 19,144,381 shares, the days-to-cover ratio is presently 3.9 days.
In other Sprint news, VP Paul Schieber, Jr. unloaded 48,964 shares of the stock on the open market in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $9.00, for a total transaction of $440,676.00. Following the transaction, the vice president now directly owns 104,932 shares of the company’s stock, valued at approximately $944,388. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on S. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Sprint in a research note on Wednesday, April 30th. They now have a $9.50 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Sprint from $5.50 to $6.00 in a research note on Wednesday, April 30th. They now have an “underperform” rating on the stock. Finally, analysts at HSBC raised their price target on shares of Sprint from $7.20 to $9.50 in a research note on Tuesday, March 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.93.
Shares of Sprint (NYSE:S) opened at 8.99 on Wednesday. Sprint has a 1-year low of $5.61 and a 1-year high of $11.47. The stock has a 50-day moving average of $8.70 and a 200-day moving average of $8.60. The company’s market cap is $35.502 billion.
Sprint (NYSE:S) last released its earnings data on Tuesday, April 29th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.04. The company had revenue of $8.88 million for the quarter, compared to the consensus estimate of $8.79 million. During the same quarter last year, the company posted ($0.21) earnings per share. Sprint’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Sprint will post $-0.30 earnings per share for the current fiscal year.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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