Facebook Sees Significant Decrease in Short Interest (FB)
Shares of Facebook (NASDAQ:FB) saw a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 44,556,753 shares, a decline of 3.4% from the May 15th total of 46,127,937 shares, American Banking & Market News reports. Based on an average daily volume of 48,822,843 shares, the short-interest ratio is presently 0.9 days. Approximately 2.3% of the shares of the company are short sold.
In other Facebook news, VP David B. Fischer sold 36,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $65.58, for a total transaction of $2,360,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
FB has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Facebook in a research note on Wednesday, May 28th. They now have a $67.00 price target on the stock. Separately, analysts at Evercore Partners upgraded shares of Facebook from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 22nd. They now have a $75.00 price target on the stock, up previously from $69.00. They noted that the move was a valuation call. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Facebook in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.89.
Shares of Facebook (NASDAQ:FB) opened at 64.19 on Tuesday. Facebook has a 1-year low of $23.38 and a 1-year high of $72.59. The stock’s 50-day moving average is $61.0 and its 200-day moving average is $60.53. The company has a market cap of $164.7 billion and a P/E ratio of 83.66.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. On average, analysts predict that Facebook will post $1.43 earnings per share for the current fiscal year.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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