Ubiquiti (NYSE:UI) Shares Gap Down to $176.63

Ubiquiti Inc. (NYSE:UI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $176.63, but opened at $166.75. Ubiquiti shares last traded at $171.94, with a volume of 17,283 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UI. Barclays increased their target price on shares of Ubiquiti from $93.00 to $108.00 and gave the stock an “underweight” rating in a report on Monday, May 13th. BWS Financial reissued a “buy” rating and set a $160.00 target price on shares of Ubiquiti in a report on Monday, July 8th.

Ubiquiti Stock Up 2.5 %

The firm’s 50-day moving average price is $162.60 and its 200 day moving average price is $136.59. The firm has a market cap of $10.94 billion, a P/E ratio of 30.79 and a beta of 1.18. The company has a quick ratio of 1.84, a current ratio of 3.95 and a debt-to-equity ratio of 32.43.

Hedge Funds Weigh In On Ubiquiti

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its position in Ubiquiti by 435.0% in the 4th quarter. Quadrant Capital Group LLC now owns 214 shares of the company’s stock valued at $30,000 after buying an additional 174 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Ubiquiti by 116.5% during the 4th quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Ubiquiti during the 4th quarter valued at about $42,000. nVerses Capital LLC bought a new position in shares of Ubiquiti during the 2nd quarter valued at about $44,000. Finally, Fairman Group LLC bought a new position in shares of Ubiquiti during the 4th quarter valued at about $52,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.