Sprint Corporation (NYSE:S) shares are trading low

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Dallas, Texas 08/22/2013 (Financialstrend) – In a recent deal filed with the Securities Exchange Commission of the United States, it had been reported that Softbank, the major shareholder of  Sprint Corporation (NYSE:S) had attained around 4.24 million shares of the stock. It had been reported that Softbank had bought these shares for an average price of $6.98 per share and the aggregate value of the deal was reported to be at $29.62 million. Recently, there had been many research reports focusing on this stock who had been fixing up the price targets of the shares.

Analysts at RBC Capital had fixed up a price target of $6.00 per share for the company from the earlier level at $7.00 per share. Analysts at Macquarie had accorded neutral rating to the stock and had fixed up a price target of $6.30 per share. Further the analysts at Jefferies had accorded hold rating to the stock with a price target of $6.50 per share lowered from the earlier level of $7.00 per share. Two equity research analysts had rated the stock of Sprint Corporation (NYSE:S) with sell, twenty one investment analysts had accorded hold rating, eight analyst had given buy rating and one equity research analyst had given strong buy rating to the stock. On an average the stock presently has a consensus rating of “Hold”.

Sprint Corporation (NYSE:S) had traded on Wednesday to report a loss of 0.14% in the share prices and had finally closed the trading session at $6.96 per share. The stock was further measured to have moved with intraday prices fluctuations ranging between low of $6.90 and high of $6.97 per share and presently the 52 week price levels for the stock ranges between low of $5.15 and high of $7.26 per share. On an average the stock had reported 36.70 million trades per day.

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