Unterberg Capital Llc Sells 745,000 Shares of Fusion Telecommunications International, Inc. (FSNN) Stock
Fusion Telecommunications International, Inc. (NASDAQ:FSNN) major shareholder Unterberg Capital Llc sold 745,000 shares of Fusion Telecommunications International stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $2.12, for a total value of $1,579,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Fusion Telecommunications International, Inc. (NASDAQ FSNN) traded up 17.99% during mid-day trading on Wednesday, hitting $3.41. The company had a trading volume of 4,180,595 shares. The firm’s market capitalization is $76.74 million. Fusion Telecommunications International, Inc. has a 12-month low of $0.96 and a 12-month high of $3.47. The company’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.46.
Fusion Telecommunications International (NASDAQ:FSNN) last posted its quarterly earnings data on Monday, August 14th. The Wireless communications provider reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative net margin of 10.47% and a negative return on equity of 202.95%. The business had revenue of $38.09 million for the quarter, compared to analyst estimates of $32.47 million. On average, analysts forecast that Fusion Telecommunications International, Inc. will post ($0.59) EPS for the current fiscal year.
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A hedge fund recently raised its stake in Fusion Telecommunications International stock. United Capital Financial Advisers LLC raised its stake in Fusion Telecommunications International, Inc. (NASDAQ:FSNN) by 256.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,929 shares of the Wireless communications provider’s stock after buying an additional 97,083 shares during the period. United Capital Financial Advisers LLC owned about 0.65% of Fusion Telecommunications International worth $213,000 at the end of the most recent reporting period. 20.36% of the stock is owned by institutional investors and hedge funds.
FSNN has been the topic of several recent research reports. B. Riley reissued a “buy” rating and issued a $3.00 price target on shares of Fusion Telecommunications International in a research note on Saturday, May 13th. ValuEngine raised Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research downgraded Fusion Telecommunications International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $5.00 target price (up previously from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday.
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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