Fusion Telecommunications International, Inc. (FSNN) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) from a hold rating to a sell rating in a research note 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. “

Other equities research analysts have also issued research reports about the company. B. Riley reaffirmed a buy rating and set a $3.00 price target on shares of Fusion Telecommunications International in a research report on Sunday, September 3rd. Craig Hallum reaffirmed a buy rating and set a $5.00 price target (up previously from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday, August 30th. Finally, ValuEngine lowered Fusion Telecommunications International from a hold rating to a sell rating in a research report on Monday, October 2nd.

Shares of Fusion Telecommunications International (FSNN) opened at $2.85 on Thursday. The company has a debt-to-equity ratio of 165.01, a quick ratio of 0.56 and a current ratio of 0.56. Fusion Telecommunications International has a 1 year low of $1.11 and a 1 year high of $3.57.

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In related news, major shareholder Unterberg Capital Llc sold 745,000 shares of Fusion Telecommunications International stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Asa Apptix sold 699,755 shares of Fusion Telecommunications International stock in a transaction that occurred on Wednesday, September 20th. The shares were 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 directly owns 2,510,012 shares in the company, valued at approximately $6,902,533. The disclosure for this sale can be found here. In the last three months, insiders sold 3,204,017 shares of company stock worth $8,786,629. 19.10% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Sii Investments Inc. WI bought a new position in Fusion Telecommunications International in the third quarter valued at approximately $112,000. FNY Partners Fund LP bought a new position in Fusion Telecommunications International in the third quarter valued at approximately $135,000. B. Riley Financial Inc. bought a new position in Fusion Telecommunications International in the second quarter valued at approximately $145,000. JPMorgan Chase & Co. bought a new position in Fusion Telecommunications International in the third quarter valued at approximately $162,000. Finally, Engineers Gate Manager LP bought a new position in Fusion Telecommunications International in the third quarter valued at approximately $189,000. Hedge funds and other institutional investors own 30.15% of the company’s stock.

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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