Finjan (NASDAQ:FNJN) Downgraded by Zacks Investment Research to “Hold”

Finjan (NASDAQ:FNJN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Finjan Holdings, Inc. operates as an online security and technology company primarily in the United States. It owns a portfolio of patents related to software that detects malicious code and protects end-users from identity and data theft, spyware, malware, phishing, Trojans and other online threats. Finjan Holdings Inc., formerly known as Converted Organics Inc., is based in New York. “

Several other research analysts also recently weighed in on FNJN. ValuEngine raised shares of Finjan from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. B. Riley set a $5.00 target price on shares of Finjan and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $3.75.



Shares of NASDAQ FNJN traded up $0.01 during midday trading on Tuesday, reaching $2.08. The company’s stock had a trading volume of 89,116 shares, compared to its average volume of 101,524. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $2.21. Finjan has a one year low of $2.04 and a one year high of $5.54. The stock has a market capitalization of $57.43 million, a P/E ratio of 2.97 and a beta of 0.36.

Finjan (NASDAQ:FNJN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.07) EPS for the quarter. The company had revenue of $7.25 million for the quarter, compared to analyst estimates of $7.25 million. Research analysts anticipate that Finjan will post 0.5 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC grew its position in Finjan by 243.1% during the second quarter. Alpine Global Management LLC now owns 739,685 shares of the software maker’s stock valued at $1,642,000 after purchasing an additional 524,118 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Finjan during the second quarter valued at approximately $493,000. Summit Securities Group LLC grew its position in Finjan by 227.3% during the first quarter. Summit Securities Group LLC now owns 270,500 shares of the software maker’s stock valued at $793,000 after purchasing an additional 187,855 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Finjan during the fourth quarter valued at approximately $254,000. Finally, Dimensional Fund Advisors LP grew its position in Finjan by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,207,345 shares of the software maker’s stock valued at $3,030,000 after purchasing an additional 81,697 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Finjan Company Profile

Finjan Holdings, Inc, a cybersecurity company, provides intellectual property licensing and enforcement services in the United States and internationally. The company owns a portfolio of patents related to software and hardware technologies that proactively detect malicious code and thereby protects end users from identity and data theft, spyware, malware, phishing, Trojans, and other Web and network threats.

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