PC Tel Inc (NASDAQ:PCTI) Short Interest Update

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PC Tel Inc (NASDAQ:PCTI) was the target of a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 139,000 shares, a decrease of 15.8% from the November 14th total of 165,000 shares. Based on an average trading volume of 155,400 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.9% of the shares of the stock are sold short.

PCTI traded up $0.06 during trading on Thursday, reaching $8.84. The stock had a trading volume of 70,400 shares, compared to its average volume of 95,440. The stock has a market cap of $158.88 million, a PE ratio of -38.43 and a beta of -0.11. PC Tel has a one year low of $3.88 and a one year high of $9.40. The business has a 50-day moving average of $8.22 and a 200-day moving average of $6.54.

PC Tel (NASDAQ:PCTI) last released its earnings results on Thursday, November 7th. The Wireless communications provider reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $23.63 million for the quarter, compared to analysts’ expectations of $23.65 million. PC Tel had a positive return on equity of 3.26% and a negative net margin of 8.07%. On average, analysts forecast that PC Tel will post 0.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.055 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.22 annualized dividend and a yield of 2.49%. PC Tel’s payout ratio is -95.65%.

A number of research analysts recently commented on the company. TheStreet raised PC Tel from a “c” rating to a “b-” rating in a research note on Monday, September 9th. ValuEngine cut PC Tel from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised PC Tel from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, November 14th. Finally, Lake Street Capital increased their target price on PC Tel from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $8.17.

A number of hedge funds and other institutional investors have recently bought and sold shares of PCTI. Cadence Capital Management LLC purchased a new stake in PC Tel during the third quarter valued at about $1,985,000. Hillsdale Investment Management Inc. purchased a new stake in PC Tel during the second quarter valued at about $414,000. Russell Investments Group Ltd. boosted its position in PC Tel by 28.1% during the second quarter. Russell Investments Group Ltd. now owns 356,025 shares of the Wireless communications provider’s stock valued at $1,578,000 after buying an additional 78,026 shares during the period. Millennium Management LLC purchased a new stake in PC Tel during the third quarter valued at about $624,000. Finally, Renaissance Technologies LLC boosted its position in PC Tel by 4.3% during the second quarter. Renaissance Technologies LLC now owns 1,487,633 shares of the Wireless communications provider’s stock valued at $6,590,000 after buying an additional 61,363 shares during the period. Institutional investors and hedge funds own 57.54% of the company’s stock.

About PC Tel

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

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