DZS (NASDAQ:DZSI) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of DZS (NASDAQ:DZSI) in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a $9.00 price target on the communications equipment provider’s stock.

DZS Stock Performance

Shares of NASDAQ DZSI opened at $1.13 on Wednesday. DZS has a fifty-two week low of $1.06 and a fifty-two week high of $7.43. The company has a market cap of $35.21 million, a PE ratio of -0.64 and a beta of 1.59. The business has a 50-day simple moving average of $1.36 and a two-hundred day simple moving average of $1.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DZSI. Wexford Capital LP purchased a new stake in shares of DZS during the fourth quarter valued at $28,000. Ameriprise Financial Inc. purchased a new stake in DZS during the 3rd quarter valued at about $30,000. Wells Fargo & Company MN increased its holdings in shares of DZS by 113.9% in the second quarter. Wells Fargo & Company MN now owns 8,272 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 4,405 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of DZS by 551.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the communications equipment provider’s stock worth $39,000 after purchasing an additional 2,893 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of DZS by 166.3% in the third quarter. Deutsche Bank AG now owns 21,429 shares of the communications equipment provider’s stock worth $45,000 after purchasing an additional 13,383 shares during the last quarter. Hedge funds and other institutional investors own 40.77% of the company’s stock.

About DZS

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.