Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $4.00 price objective 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. “
Separately, Northland Securities set a $6.00 price objective on Westell Technologies and gave the stock a buy rating in a research report on Friday, August 11th.
Westell Technologies (NASDAQ WSTL) traded up $0.02 during midday trading on Wednesday, hitting $3.45. The stock had a trading volume of 20,800 shares, compared to its average volume of 41,984. The stock has a market capitalization of $53.12, a P/E ratio of 21.44 and a beta of 1.62. Westell Technologies has a 1-year low of $1.76 and a 1-year high of $3.80.
Westell Technologies (NASDAQ:WSTL) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. Westell Technologies had a positive return on equity of 4.84% and a negative net margin of 3.45%. The business had revenue of $17.23 million for the quarter, compared to the consensus estimate of $16.74 million. During the same quarter last year, the business posted ($0.02) earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. research analysts forecast that Westell Technologies will post 0.23 earnings per share for the current fiscal year.
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A hedge fund recently bought a new stake in Westell Technologies stock. Essex Investment Management Co. LLC acquired a new stake in Westell Technologies, Inc. (NASDAQ:WSTL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned approximately 0.32% of Westell Technologies at the end of the most recent quarter. 27.68% of the stock is currently 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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