Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a buy rating in a research report sent to investors on Thursday. The firm currently has $3.25 price target on the communications equipment provider’s stock.
According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “
A number of other equities analysts have also recently commented on the stock. Northland Securities set a $6.00 price target on shares of Westell Technologies and gave the stock a buy rating in a research note on Friday, August 11th. ValuEngine raised shares of Westell Technologies from a sell rating to a hold rating in a research report on Friday, June 9th.
Shares of Westell Technologies (NASDAQ:WSTL) opened at 2.85 on Thursday. The stock’s 50 day moving average is $2.94 and its 200-day moving average is $2.90. The stock’s market capitalization is $43.90 million. Westell Technologies has a 12-month low of $1.76 and a 12-month high of $3.80.
Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Westell Technologies had a negative return on equity of 1.07% and a negative net margin of 13.51%. The firm had revenue of $16.57 million for the quarter, compared to analysts’ expectations of $15.36 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. Westell Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts expect that Westell Technologies will post $0.10 earnings per share for the current year.
An institutional investor recently raised its position in Westell Technologies stock. Renaissance Technologies LLC lifted its holdings in Westell Technologies, Inc. (NASDAQ:WSTL) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,773,429 shares of the communications equipment provider’s stock after purchasing an additional 100,900 shares during the period. Renaissance Technologies LLC owned about 6.13% of Westell Technologies worth $2,641,000 at the end of the most recent quarter. 27.18% of the stock is owned by institutional investors and hedge funds.
Westell Technologies Company Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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