Switch Inc (NYSE:SWCH) saw unusually large options trading activity on Tuesday. Stock investors purchased 1,872 put options on the company. This represents an increase of 1,363% compared to the typical daily volume of 128 put options.

SWCH stock opened at $9.31 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.87. Switch has a fifty-two week low of $6.39 and a fifty-two week high of $16.23.

Switch (NYSE:SWCH) last released its earnings results on Tuesday, March 12th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Switch had a negative net margin of 16.29% and a negative return on equity of 1.84%. On average, sell-side analysts forecast that Switch will post 0.08 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its holdings in Switch by 30.2% in the fourth quarter. Squarepoint Ops LLC now owns 23,602 shares of the company’s stock valued at $165,000 after purchasing an additional 5,481 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Switch by 7.0% in the third quarter. Alliancebernstein L.P. now owns 89,371 shares of the company’s stock valued at $965,000 after purchasing an additional 5,810 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Switch by 20.7% in the third quarter. Teachers Advisors LLC now owns 41,947 shares of the company’s stock valued at $453,000 after purchasing an additional 7,182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Switch by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 358,217 shares of the company’s stock valued at $2,507,000 after purchasing an additional 9,507 shares in the last quarter. Finally, WealthPLAN Partners LLC acquired a new position in Switch in the fourth quarter valued at approximately $108,000. Hedge funds and other institutional investors own 18.02% of the company’s stock.

A number of brokerages have issued reports on SWCH. BMO Capital Markets reiterated a “buy” rating and set a $10.50 price target on shares of Switch in a research note on Tuesday. Zacks Investment Research upgraded shares of Switch from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research note on Saturday, March 2nd. Raymond James restated a “hold” rating and set a $11.00 target price on shares of Switch in a research note on Sunday, December 2nd. Berenberg Bank began coverage on shares of Switch in a research note on Tuesday, January 8th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Credit Suisse Group set a $14.00 target price on shares of Switch and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Switch has a consensus rating of “Buy” and an average price target of $13.61.

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About Switch

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.

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