Fusion Telecommunications International, Inc. (FSNN) Receives “Buy” Rating from B. Riley
Fusion Telecommunications International, Inc. (NASDAQ:FSNN)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research note issued to investors on Sunday. They presently have a $3.00 price target on the Wireless communications provider’s stock. B. Riley’s target price indicates a potential upside of 138.10% from the stock’s previous close.
FSNN has been the subject of a number of other research reports. ValuEngine upgraded Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Fusion Telecommunications International from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Tuesday, June 27th.
Fusion Telecommunications International (NASDAQ FSNN) traded up 0.80% during trading on Friday, hitting $1.26. The stock had a trading volume of 7,362 shares. The company’s market cap is $28.36 million. The company has a 50-day moving average of $1.34 and a 200 day moving average of $1.47. Fusion Telecommunications International has a 52 week low of $0.96 and a 52 week high of $2.02.
Fusion Telecommunications International (NASDAQ:FSNN) last released its quarterly earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative return on equity of 202.95% and a negative net margin of 10.47%. The firm had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $32.47 million. On average, equities research analysts anticipate that Fusion Telecommunications International will post ($0.59) EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. Unterberg Capital LLC bought a new stake in Fusion Telecommunications International during the fourth quarter valued at $5,564,000. Spears Abacus Advisors LLC increased its position in shares of Fusion Telecommunications International by 763.3% in the third quarter. Spears Abacus Advisors LLC now owns 200,000 shares of the Wireless communications provider’s stock worth $330,000 after buying an additional 176,834 shares during the period. United Capital Financial Advisers LLC increased its position in shares of Fusion Telecommunications International by 256.5% in the first quarter. United Capital Financial Advisers LLC now owns 134,929 shares of the Wireless communications provider’s stock worth $213,000 after buying an additional 97,083 shares during the period. Finally, B. Riley Financial Inc. acquired a new position in shares of Fusion Telecommunications International during the second quarter worth approximately $145,000. 18.80% of the stock is owned by hedge funds and other institutional investors.
About Fusion Telecommunications International
Fusion Telecommunications International, Inc is a United States-based provider of integrated cloud solutions, including cloud voice, cloud connectivity, cloud infrastructure, cloud computing, and managed cloud-based applications to businesses, and voice over Internet Protocol (VoIP)-based voice services to carriers.
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