FTE Networks Inc (FTNW) Short Interest Up 34.1% in December

FTE Networks Inc (NYSEAMERICAN:FTNW) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 250,463 shares, an increase of 34.1% from the December 14th total of 186,808 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 194,331 shares, the short-interest ratio is presently 1.3 days.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of FTE Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Dawson James reissued a “buy” rating on shares of FTE Networks in a research report on Tuesday, December 11th.

In other news, CFO David Lethem acquired 21,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was acquired at an average price of $4.47 per share, with a total value of $93,870.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Palleschi acquired 35,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was purchased at an average cost of $4.24 per share, with a total value of $148,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 80,248 shares of company stock valued at $357,212.

A number of institutional investors have recently added to or reduced their stakes in FTNW. BlackRock Inc. purchased a new stake in FTE Networks in the second quarter valued at approximately $127,000. Vanguard Group Inc. grew its holdings in FTE Networks by 31.9% in the third quarter. Vanguard Group Inc. now owns 113,487 shares of the company’s stock valued at $1,325,000 after purchasing an additional 27,425 shares during the period. Finally, Vanguard Group Inc grew its holdings in FTE Networks by 31.9% in the third quarter. Vanguard Group Inc now owns 113,487 shares of the company’s stock valued at $1,325,000 after purchasing an additional 27,425 shares during the period.

NYSEAMERICAN:FTNW opened at $2.67 on Friday. FTE Networks has a 1-year low of $1.91 and a 1-year high of $26.25.

FTE Networks (NYSEAMERICAN:FTNW) last released its earnings results on Tuesday, November 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $92.22 million during the quarter, compared to analysts’ expectations of $89.00 million.

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FTE Networks Company Profile

FTE Networks, Inc, together with its subsidiaries, offers technology-oriented solutions for smart platforms, network infrastructure, and buildings in the United States. The company operates through three segments: Infrastructure, Technology, and Staffing. It also provides telecommunications solutions, including design, engineering, installation, upgrade, repair, and maintenance of infrastructures, antennas, switching systems, and backhaul links, as well as fiber optic, copper, and coaxial cable networks used for video, data, and voice transmission.

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