Vecima Networks (TSE:VCM) Hits New 52-Week Low – Here’s Why

Vecima Networks Inc. (TSE:VCM) hit a new 52-week low on Wednesday . The company traded as low as C$11.00 and last traded at C$11.20, with a volume of 7809 shares. The stock had previously closed at C$11.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Cormark lowered Vecima Networks from a “buy” rating to a “market perform” rating and decreased their target price for the stock from C$23.00 to C$14.00 in a research note on Monday, February 10th. Accountability Research decreased their target price on Vecima Networks from C$27.00 to C$24.00 in a research note on Friday, November 15th. Finally, Raymond James decreased their target price on Vecima Networks from C$27.00 to C$20.00 in a research note on Friday, February 14th.

Vecima Networks Price Performance

The company has a debt-to-equity ratio of 22.94, a quick ratio of 0.83 and a current ratio of 1.73. The stock has a market capitalization of C$257.99 million, a P/E ratio of 13.03 and a beta of 0.63. The firm has a 50-day moving average price of C$14.19 and a 200 day moving average price of C$17.84.

Vecima Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 28th will be given a dividend of $0.055 per share. The ex-dividend date is Friday, February 28th. This represents a $0.22 annualized dividend and a dividend yield of 2.05%. Vecima Networks’s dividend payout ratio (DPR) is presently 26.68%.

Insider Activity

In related news, Senior Officer Clay Mccreery sold 1,600 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of C$17.40, for a total transaction of C$27,840.00. In the last three months, insiders have bought 5,500 shares of company stock worth $71,193. 57.14% of the stock is currently owned by insiders.

About Vecima Networks

Vecima Networks Inc engages in the development of integrated hardware and software solutions for broadband access, content delivery, and telematics. The company operates through three segments: Video and Broadband Solutions, Content Delivery and Storage, and Telematics. The Video and Broadband Solutions segment offers platforms that process data from the cable network and deliver high-speed internet connectivity to homes over cable and fiber, as well as adapt video services.