Short Interest in GTT Communications Declines By 4.5% (GTT)
Shares of GTT Communications (NYSE:GTT) were the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 571,785 shares, a decrease of 4.5% from the July 31st total of 598,753 shares, Stock Ratings Network reports. Currently, 3.3% of the company’s stock are sold short. Based on an average trading volume of 66,595 shares, the days-to-cover ratio is currently 8.6 days.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of GTT Communications from a “neutral” rating to an “outperform” rating in a research note on Monday, August 11th. They now have a $12.60 price target on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of GTT Communications in a research note on Wednesday, June 4th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, analysts at William Blair initiated coverage on shares of GTT Communications in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $157.00 price target on the stock.
Shares of GTT Communications (NYSE:GTT) opened at 11.95 on Friday. GTT Communications has a one year low of $4.05 and a one year high of $13.39. The stock’s 50-day moving average is $11.09 and its 200-day moving average is $10.85. The company’s market cap is $343.4 million.
GTT Communications (NYSE:GTT) last announced its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.05) by $0.09. Analysts expect that GTT Communications will post $-0.28 EPS for the current fiscal year.
GTT Communications, Inc, formerly Global Telecom & Technology, Inc, is a global network integrator providing a portfolio of Wide-Area Network (NYSE:GTT), dedicated Internet access and managed data services.
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