Frontier Communications Parent, Inc. (NASDAQ:FYBR) Sees Large Increase in Short Interest

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,030,000 shares, an increase of 46.0% from the August 15th total of 1,390,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 1.6 days.

FYBR has been the subject of several recent research reports. Cowen started coverage on Frontier Communications Parent in a report on Wednesday, July 21st. They set an “outperform” rating and a $37.00 price target for the company. The Goldman Sachs Group started coverage on Frontier Communications Parent in a research report on Tuesday, July 6th. They issued a “buy” rating and a $42.00 price objective for the company. Moffett Nathanson increased their price objective on Frontier Communications Parent from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 18th. Finally, Benchmark increased their price objective on Frontier Communications Parent from $40.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 11th.

Hedge funds have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $35,000. CX Institutional purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $76,000. Wells Fargo & Company MN purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $109,000. SG Americas Securities LLC purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $166,000. Finally, Hayden Royal LLC purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $200,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Shares of FYBR stock opened at $29.89 on Tuesday. Frontier Communications Parent has a fifty-two week low of $23.24 and a fifty-two week high of $33.34. The firm has a fifty day moving average price of $30.01. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.17 and a quick ratio of 1.17.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides various services to residential and business customers over its fiber-optic and copper networks in 25 states in the United States. It offers video, high-speed Internet, advanced voice, and Frontier Secure digital protection solutions.

Featured Story: Strangles

Receive News & Ratings for Frontier Communications Parent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Parent and related companies with MarketBeat.com's FREE daily email newsletter.