Shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) dropped 6.9% during mid-day trading on Monday . The stock traded as low as $0.26 and last traded at $0.27. Approximately 1,359,360 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 1,028,649 shares. The stock had previously closed at $0.29.
FSNN has been the topic of several recent research reports. Zacks Investment Research raised Fusion Telecommunications International from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. B. Riley reissued a “neutral” rating and issued a $0.75 price target (down previously from $9.75) on shares of Fusion Telecommunications International in a report on Wednesday, April 3rd. Finally, ValuEngine raised Fusion Telecommunications International from a “hold” rating to a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Fusion Telecommunications International currently has an average rating of “Hold” and a consensus target price of $0.75.
The firm has a market capitalization of $21.54 million, a PE ratio of -0.22 and a beta of 1.84.
A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Fusion Telecommunications International by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 217,950 shares of the Wireless communications provider’s stock valued at $366,000 after purchasing an additional 7,763 shares during the period. Millennium Management LLC increased its stake in shares of Fusion Telecommunications International by 13.1% in the fourth quarter. Millennium Management LLC now owns 121,592 shares of the Wireless communications provider’s stock worth $204,000 after purchasing an additional 14,066 shares during the period. Emancipation Management LLC increased its stake in shares of Fusion Telecommunications International by 28.6% in the fourth quarter. Emancipation Management LLC now owns 246,004 shares of the Wireless communications provider’s stock worth $413,000 after purchasing an additional 54,707 shares during the period. Paloma Partners Management Co bought a new position in shares of Fusion Telecommunications International in the fourth quarter worth about $47,000. Finally, KEMPER Corp bought a new position in shares of Fusion Telecommunications International in the fourth quarter worth about $101,000. 14.34% of the stock is currently owned by hedge funds and other institutional investors.
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Fusion Telecommunications International Company Profile (NASDAQ:FSNN)
Fusion Connect, Inc provides integrated cloud solutions to small, medium, and large businesses. Its proprietary service platform enables the integration of solutions in the cloud, including cloud voice and unified communications, contact center, cloud connectivity, and cloud computing, as well as additional cloud services, such as storage and security.
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