Short Interest in Sprint Grows By 18.7% (S)
Sprint (NYSE:S) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 100,412,481 shares, a growth of 18.7% from the July 31st total of 84,571,795 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 38,828,518 shares, the days-to-cover ratio is currently 2.6 days. Currently, 12.9% of the company’s shares are sold short.
A number of analysts have recently weighed in on S shares. Analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Sprint in a research note on Wednesday. Separately, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Sprint in a research note on Tuesday. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Sprint in a research note on Wednesday, August 27th. They now have a $6.00 price target on the stock, down previously from $9.00. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.63.
Shares of Sprint (NYSE:S) opened at 5.77 on Friday. Sprint has a one year low of $5.36 and a one year high of $11.47. The stock’s 50-day moving average is $6.46 and its 200-day moving average is $8.16. The company’s market cap is $22.765 billion.
Sprint (NYSE:S) last released its earnings data on Wednesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Sprint will post $-0.15 EPS 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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