Universal Electronics (NASDAQ:UEIC) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Universal Electronics Inc. (NASDAQ:UEIC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.87 and traded as high as $4.20. Universal Electronics shares last traded at $4.11, with a volume of 45,909 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Universal Electronics in a report on Monday, December 29th. Wall Street Zen raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Universal Electronics currently has an average rating of “Reduce” and a consensus target price of $5.75.

Universal Electronics Price Performance

The business has a 50-day moving average of $4.04 and a 200-day moving average of $3.87. The company has a market capitalization of $53.50 million, a P/E ratio of -2.97 and a beta of 1.29.

Institutional Trading of Universal Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Man Group plc lifted its holdings in Universal Electronics by 2.9% during the fourth quarter. Man Group plc now owns 102,924 shares of the technology company’s stock worth $372,000 after buying an additional 2,905 shares during the period. Empowered Funds LLC increased its holdings in shares of Universal Electronics by 8.4% in the 1st quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock valued at $299,000 after acquiring an additional 3,802 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Universal Electronics by 3.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 131,164 shares of the technology company’s stock worth $868,000 after acquiring an additional 4,143 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Universal Electronics by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock worth $222,000 after acquiring an additional 4,893 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Universal Electronics by 9.7% during the 4th quarter. State Street Corp now owns 56,520 shares of the technology company’s stock worth $204,000 after purchasing an additional 5,000 shares during the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.

About Universal Electronics

Universal Electronics Inc (NASDAQ:UEIC) is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.