Shares Of FireEye Halted Following Unconfirmed Chatter Of OTR Downgrade

Shares of

plunged more than 4 percent during Thursday's morning trading session before the issue was halted. Investors and traders were heavily selling the stock following unconfirmed market chatter that the research firm, OTR Global, has published a negative report on the company.

Other unconfirmed chatter suggested OTR Global downgraded FireEye's stock rating to 'Negative' from 'Mixed'. In most instances, market chatter of a downgrade may be ignored by the investment community. However, FireEye's stock rating has been downgraded by several large Wall Street research firms in the past. On October 5, analysts at Piper Jaffray

downgraded

FireEye's stock rating to Neutral from Outperform with a price target slashed to $32 from a previous $41. The analysts noted their bullish stance on FireEye has changed following a series of first hand checks.