Bidness Etc - Verizon Communication Witnesses an Increase in Short Interest Shares

Verizon Communication has experienced a significant rise in the short interest of shares in February. According to a report submitted by AnalystRatings.net, on 13th February a total number of 123,732,913 shares were reported to be short interest shares marking an increase of 165.8% as compared to the short interest shares recorded on January 30th 2015 which were 46,546,521 in total.
The short interest shares currently have a ratio of5.6 days based on an average volume of 22,140,274 shares. As of the report, around 3.0% short shares of the company have been sold.
Other than that, Verizon’s SVP Anthony Skiadas sold 2708 shares in a transaction made on 17th February 2015 in which the share price at the time of selling was $49.02 and the total amount collected by the end of the transaction amounted to $132,746.16. The company submitted the details of this transaction to Securities Exchange Commission.
On Monday, the company had a share price of $49.45 at the time the stock market opened. The wireless system provider has a 52 week high of $53.66 and a 52-week low of $45.09. The 50 day moving estimate for the firm has been recorded at $48.11 and the 200 moving estimate is $48.73. The New Jersey-based company has market value of $205.5 billion and the price to earnings ratio has been reported as 20.40.
A few equity analysts have covered the stock of the telecom company. In a research note presented on 9th February 2015, CitiGroup’s analysts declared that the shares of the company should be given a ‘neutral’ rating and a price target of $51.00. Equity analyst from JP Morgan Chase & Co decreased their price target on the shares of Verizon from $57.00 to $55.00 and gave an ‘overweight’ rating to the shares as of a stock report presented on Monday, 2nd February 2015. Financial analysts at Canaccord Genuity decreased their price target on the shares of the company from $56.00 to $54.00, suggesting a ‘buy’ rating to the firm’s shares. TheStreet analysts lessened their ratings on the shares of Verizon from a rating of ‘buy’ to a ‘hold’ rating. A total number of twelve equity analysts have presented the company’s shares with a ‘hold’ rating whereas ten analysts have given a ‘buy’ rating to the American company’s shares.
Verizon Communication (NYSE: VZ) is a company that provides wireless services to over 125 million users.