GTT Communications Inc. (NYSE: GTT) is -32.77% lower on its value in year-to-date trading and has touched a low of $2.38 and a high of $15.77 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GTT stock was last observed hovering at around $2.39 in the last trading session, with the day’s gains setting it 0.01% off its average median price target of $11.00 for the next 12 months. It is also 78.18% off the consensus price target high of $11.00 offered by 1 analysts, but current levels are 78.18% higher than the price target low of $11.00 for the same period.
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Currently trading at $2.40, the stock is -44.78% and -39.27% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.74 million and changing 0.42% at the moment leaves the stock -57.39% off its SMA200. GTT registered -83.89% loss for a year compared to 6-month loss of -45.82%. The firm has a 50-day simple moving average (SMA 50) of $3.9627 and a 200-day simple moving average (SMA200) of $4.4959.
The stock witnessed a -36.51% gain in the last 1 month and extending the period to 3 months gives it a -36.84%, and is -41.03% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 19.99% over the week and 14.19% over the month.
GTT Communications Inc. (GTT) has around 3100 employees, a market worth around $164.78M and $1.70B in sales. Profit margin for the company is -9.50%. Distance from 52-week low is 0.84% and -84.78% from its 52-week high. The company has generated returns on investments over the last 12 months (3.40%).
GTT Communications Inc. (GTT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for GTT Communications Inc. (GTT) is a “Sell”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
GTT Communications Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.52 with sales reaching $416.22M over the same period.The EPS is expected to grow by 60.80% this year, but quarterly earnings will post -3.90% year-over-year. Quarterly sales are estimated to shrink -4.10% in year-over-year returns.
GTT Communications Inc. (GTT) Top Institutional Holders
129 institutions hold shares in GTT Communications Inc. (GTT), with 11.87M shares held by insiders accounting for 20.18% while institutional investors hold 94.27% of the company’s shares. The shares outstanding are 57.26M, and float is at 42.59M with Short Float at 18.87%. Institutions hold 75.24% of the Float.
The top institutional shareholder in the company is Spruce House Investment Management LLC with over 15.88 million shares valued at $81.92 million. The investor’s holdings represent 26.99% of the GTT Shares outstanding. As of Sep 29, 2020, the second largest holder is Conifer Management, L.L.C. with 5.21 million shares valued at $26.88 million to account for 8.86% of the shares outstanding. The other top investors are Neuberger Berman Group, LLC which holds 4.8 million shares representing 8.17% and valued at over $17.15 million, while Vanguard Group, Inc. (The) holds 3.82% of the shares totaling 2.24 million with a market value of $11.58 million.
GTT Communications Inc. (GTT) Insider Activity
A total of 20 insider transactions have happened at GTT Communications Inc. (GTT) in the last six months, with sales accounting for 12 and purchases happening 8 times.
GTT Communications Inc. (GTT): Who are the competitors?
The company’s main competitors (and peers) include Lumen Technologies Inc. (LUMN) that is trading -9.38% down over the past 12 months. AT&T Inc. (T) is -23.94% down on the 1-year trading charts. Short interest in the company’s stock has risen 2.99% from the last report on Dec 30, 2020 to stand at a total of 7.8 million short shares sold with a short interest ratio of 6.69.