Facebook Short Interest Down 2.9% in July (FB)
Facebook (NASDAQ:FB) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 37,776,463 shares, a drop of 2.9% from the July 15th total of 38,899,205 shares, StockRatingsNetwork.com reports. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 51,144,772 shares, the short-interest ratio is currently 0.7 days.
In other Facebook news, VP David B. Fischer sold 36,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $73.19, for a total value of $2,634,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on FB shares. Analysts at Zacks upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $87.00 price target on the stock. Separately, analysts at S&P Equity Research reiterated an “average” rating on shares of Facebook in a research note on Friday, July 25th. They now have a $3.00 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Facebook in a research note on Thursday, July 24th. They now have a $82.00 price target on the stock, up previously from $78.00. Seven research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $79.67.
Facebook (NASDAQ:FB) opened at 72.83 on Wednesday. Facebook has a one year low of $36.02 and a one year high of $76.74. The stock’s 50-day moving average is $69.63 and its 200-day moving average is $64.7. The company has a market cap of $189.4 billion and a P/E ratio of 78.04.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 23rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.10. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 60.5% on a year-over-year basis. On average, analysts predict that Facebook will post $1.62 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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