FairPoint Communications Inc (NASDAQ:FRP) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 906,751 shares, a decline of 24.9% from the February 28th total of 1,207,515 shares. Based on an average trading volume of 334,113 shares, the short-interest ratio is presently 2.7 days. Currently, 3.5% of the shares of the company are sold short.

Several equities research analysts have recently weighed in on FRP shares. Zacks Investment Research upgraded FairPoint Communications from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, March 9th. Jefferies Group LLC decreased their price target on FairPoint Communications from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, March 7th.

FairPoint Communications (NASDAQ:FRP) traded down 2.00% during midday trading on Friday, reaching $17.15. The company had a trading volume of 165,113 shares. The stock’s 50 day moving average is $16.59 and its 200 day moving average is $17.10. The company has a market capitalization of $460.96 million, a PE ratio of 4.47 and a beta of 0.32. FairPoint Communications has a one year low of $12.81 and a one year high of $19.60.

FairPoint Communications (NASDAQ:FRP) last posted its earnings results on Monday, March 6th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $1.00 by $0.41. The business had revenue of $203.93 million for the quarter, compared to the consensus estimate of $200.33 million. FairPoint Communications had a negative return on equity of 627.47% and a net margin of 15.70%. Equities research analysts forecast that FairPoint Communications will post ($1.60) earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Smith Asset Management Group LP increased its stake in shares of FairPoint Communications by 1.9% in the third quarter. Smith Asset Management Group LP now owns 8,460 shares of the company’s stock worth $127,000 after buying an additional 160 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of FairPoint Communications by 1.1% in the third quarter. BlackRock Advisors LLC now owns 46,586 shares of the company’s stock worth $700,000 after buying an additional 529 shares during the last quarter. Alambic Investment Management L.P. increased its stake in shares of FairPoint Communications by 1.4% in the third quarter. Alambic Investment Management L.P. now owns 72,251 shares of the company’s stock worth $1,086,000 after buying an additional 980 shares during the last quarter. SECOR Capital Advisors LP increased its stake in shares of FairPoint Communications by 9.3% in the third quarter. SECOR Capital Advisors LP now owns 81,470 shares of the company’s stock worth $1,224,000 after buying an additional 6,923 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of FairPoint Communications by 24.5% in the fourth quarter. Teachers Advisors LLC now owns 44,945 shares of the company’s stock worth $840,000 after buying an additional 8,853 shares during the last quarter. 92.22% of the stock is owned by institutional investors.