Zacks Investment Research downgraded shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) from a hold rating to a sell rating in a research report released on Thursday morning.

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. “

Several other equities research analysts have also weighed in on the company. B. Riley reissued a buy rating and set a $3.00 price objective on shares of Fusion Telecommunications International in a research note on Tuesday. ValuEngine lowered Fusion Telecommunications International from a hold rating to a sell rating in a research note on Monday, October 2nd. Finally, Craig Hallum reissued a buy rating and set a $5.00 price objective (up from $3.00) on shares of Fusion Telecommunications International in a research note on Wednesday, August 30th.

Fusion Telecommunications International (FSNN) traded down $0.02 on Thursday, hitting $2.85. The stock had a trading volume of 410,576 shares, compared to its average volume of 217,996. The company has a debt-to-equity ratio of 21.55, a current ratio of 0.49 and a quick ratio of 0.49. Fusion Telecommunications International has a 1-year low of $1.11 and a 1-year high of $3.57.

Fusion Telecommunications International (NASDAQ:FSNN) last released its quarterly earnings data on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $38.09 million during the quarter, compared to analyst estimates of $32.47 million. Fusion Telecommunications International had a negative return on equity of 213.09% and a negative net margin of 10.36%. equities research analysts forecast that Fusion Telecommunications International will post -0.59 earnings per share for the current fiscal year.

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In other news, major shareholder Asa Apptix sold 699,755 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 2,510,012 shares of the company’s stock, valued at $6,902,533. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Unterberg Capital Llc sold 745,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $2.12, for a total value of $1,579,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,204,017 shares of company stock valued at $8,786,629. 19.10% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new stake in shares of Fusion Telecommunications International in the third quarter worth $189,000. Sii Investments Inc. WI acquired a new stake in shares of Fusion Telecommunications International in the third quarter worth $112,000. JPMorgan Chase & Co. acquired a new stake in shares of Fusion Telecommunications International in the third quarter worth $162,000. FNY Partners Fund LP acquired a new stake in shares of Fusion Telecommunications International in the third quarter worth $135,000. Finally, EAM Investors LLC acquired a new stake in shares of Fusion Telecommunications International in the third quarter worth $575,000. 22.09% of the stock is owned by institutional investors and hedge funds.

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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