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GTT Communications Inc. (GTT) – Don’t Be So Quick to Call it Dead

122 institutions hold shares in GTT Communications Inc. (GTT), with 11.92M shares held by insiders accounting for 20.26% while institutional investors hold 70.95% of the company’s shares. The shares outstanding are 58.82M, and float is at 25.17M with Short Float at 40.50%. Institutions hold 56.57% of the Float.

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The top institutional shareholder in the company is Spruce House Investment Management LLC with over 15.88 million shares valued at $56.67 million. The investor’s holdings represent 26.99% of the GTT Shares outstanding. As of Dec 30, 2020, the second largest holder is Conifer Management, L.L.C. with 5.21 million shares valued at $18.6 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 Blackrock Inc. holds 3.70% of the shares totaling 2.18 million with a market value of $7.77 million.

GTT Communications Inc. (NYSE: GTT) is -47.62% lower on its value in year-to-date trading and has touched a low of $1.51 and a high of $12.59 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 $1.83 in the last trading session, with the day’s gains setting it 0.04% off its average median price target of $11.00 for the next 12 months. It is also 83.0% off the consensus price target high of $11.00 offered by 1 analysts, but current levels are 83.0% higher than the price target low of $11.00 for the same period.

Currently trading at $1.87, the stock is -2.86% and -37.42% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.27 million and changing 2.19% at the moment leaves the stock -59.90% off its SMA200. GTT registered -75.56% loss for a year compared to 6-month loss of -63.76%. The firm has a 50-day simple moving average (SMA 50) of $2.1209 and a 200-day simple moving average (SMA200) of $3.8124.

The stock witnessed a -1.58% gain in the last 1 month and extending the period to 3 months gives it a -48.06%, and is 2.75% up 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 7.55% over the week and 11.60% over the month.

GTT Communications Inc. (GTT) has around 3100 employees, a market worth around $109.99M and $1.70B in sales. Distance from 52-week low is 23.84% and -85.15% from its 52-week high.

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 3.70, 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 08/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.52 with sales reaching $411.95M over the same period.The EPS is expected to shrink by -26.60% this year, but quarterly earnings will post -4.60% year-over-year. Quarterly sales are estimated to shrink -5.00% in year-over-year returns.

GTT Communications Inc. (GTT) Insider Activity

A total of 12 insider transactions have happened at GTT Communications Inc. (GTT) in the last six months, with sales accounting for 12 and purchases happening 0 times.

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GTT Communications Inc. (GTT): Who are the competitors?

The company’s main competitors (and peers) include Lumen Technologies Inc. (LUMN) that is trading 49.15% up over the past 12 months and Shenandoah Telecommunications Company (SHEN) that is 5.41% higher over the same period. AT&T Inc. (T) is 8.63% up on the 1-year trading charts. Short interest in the company’s stock has risen 25.2% from the last report on Feb 11, 2021 to stand at a total of 7.63 million short shares sold with a short interest ratio of 0.96.

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