Fusion Telecommunications International, Inc. (NASDAQ:FSNN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Fusion Telecommunications is a provider of VoIP (Voice Over Internet Protocol) and other Internet services to, from, in and between emerging markets in Asia, the Middle East, Africa, the Caribbean and Latin America. Fusion currently provides a full suite of communications services to corporations, postal telephone and telegraph companies, international carriers, government entities, Internet service providers and consumers in over 45 countries. “

FSNN has been the topic of several other reports. ValuEngine raised Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a report on Monday, August 28th. B. Riley reaffirmed a “buy” rating and issued a $3.00 target price on shares of Fusion Telecommunications International in a report on Tuesday, November 7th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $5.00 target price (up from $3.00) on shares of Fusion Telecommunications International in a report on Wednesday, August 30th.

Shares of Fusion Telecommunications International (NASDAQ:FSNN) traded up $0.25 during mid-day trading on Thursday, hitting $2.87. The stock had a trading volume of 455,989 shares, compared to its average volume of 217,128. Fusion Telecommunications International has a 1 year low of $1.11 and a 1 year high of $3.57. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 21.55.

Fusion Telecommunications International (NASDAQ:FSNN) last issued its earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative return on equity of 213.09% and a negative net margin of 10.36%. The firm had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $32.47 million. analysts predict that Fusion Telecommunications International will post -0.59 EPS for the current year.

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In related news, major shareholder Unterberg Capital Llc sold 745,000 shares of Fusion Telecommunications International stock in a transaction dated Monday, August 28th. The stock was 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 at this link. Also, major shareholder Asa Apptix sold 699,755 shares of Fusion Telecommunications International stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $2.75, for a total value of $1,924,326.25. Following the completion of the transaction, the insider now owns 2,510,012 shares of the company’s stock, valued at approximately $6,902,533. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,204,017 shares of company stock valued at $8,786,629. 19.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Financial Inc. purchased a new position in Fusion Telecommunications International in the second quarter worth about $145,000. Engineers Gate Manager LP purchased a new position in shares of Fusion Telecommunications International during the third quarter valued at approximately $189,000. Sii Investments Inc. WI purchased a new position in shares of Fusion Telecommunications International during the third quarter valued at approximately $112,000. JPMorgan Chase & Co. purchased a new position in shares of Fusion Telecommunications International during the third quarter valued at approximately $162,000. Finally, FNY Partners Fund LP purchased a new position in shares of Fusion Telecommunications International during the third quarter valued at approximately $135,000. Institutional investors own 22.09% of the company’s stock.

Fusion Telecommunications International Company Profile

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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