Fusion Telecommunications Int'l, Inc. (NASDAQ:FSNN) shot up 11.2% during trading on Friday after B. Riley raised their price target on the stock from $3.00 to $6.50. B. Riley currently has a buy rating on the stock. Fusion Telecommunications Int'l traded as high as $4.42 and last traded at $3.96. 872,700 shares changed hands during mid-day trading, an increase of 470% from the average session volume of 153,163 shares. The stock had previously closed at $3.56.

FSNN has been the topic of a number of other reports. ValuEngine cut Fusion Telecommunications Int'l from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research cut Fusion Telecommunications Int'l from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Fusion Telecommunications Int'l during the third quarter valued at $1,041,000. EAM Investors LLC bought a new position in shares of Fusion Telecommunications Int'l during the third quarter valued at $575,000. Engineers Gate Manager LP bought a new position in shares of Fusion Telecommunications Int'l during the third quarter valued at $189,000. Sii Investments Inc. WI bought a new position in shares of Fusion Telecommunications Int'l during the third quarter valued at $112,000. Finally, FNY Partners Fund LP bought a new position in shares of Fusion Telecommunications Int'l during the third quarter valued at $135,000. 23.00% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $89.01, a price-to-earnings ratio of -4.90 and a beta of 2.01. The company has a debt-to-equity ratio of 165.01, a quick ratio of 0.56 and a current ratio of 0.56.

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About Fusion Telecommunications Int'l

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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