Zacks Investment Research downgraded shares of ARC Group WorldWide (NASDAQ:ARCW) from a hold rating to a sell rating in a report issued on Wednesday.
According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “
ARC Group WorldWide (NASDAQ ARCW) remained flat at $$2.40 during trading hours on Wednesday. The company had a trading volume of 18,267 shares, compared to its average volume of 32,053. The company has a current ratio of 1.61, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The company has a market cap of $43.70, a P/E ratio of -2.50 and a beta of 3.39. ARC Group WorldWide has a 52 week low of $1.83 and a 52 week high of $4.97.
An institutional investor recently raised its position in ARC Group WorldWide stock. Northern Right Capital Management L.P. boosted its holdings in ARC Group WorldWide Inc (NASDAQ:ARCW) by 38.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,058 shares of the technology company’s stock after buying an additional 290,010 shares during the period. ARC Group WorldWide makes up 2.2% of Northern Right Capital Management L.P.’s investment portfolio, making the stock its 14th biggest holding. Northern Right Capital Management L.P. owned approximately 5.79% of ARC Group WorldWide worth $2,966,000 as of its most recent SEC filing. 16.31% of the stock is owned by institutional investors and hedge funds.
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ARC Group WorldWide Company Profile
ARC Group Worldwide, Inc is a manufacturing company. The Company has two segments: Precision Components Group, 3DMT Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication.
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