PC-Tel Sees Significant Increase in Short Interest (PCTI)
Shares of PC-Tel (NASDAQ:PCTI) were the recipient of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 724,112 shares, a growth of 44.7% from the May 15th total of 500,474 shares, StockRatingsNetwork.com reports. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 333,728 shares, the short-interest ratio is presently 2.2 days.
In other PC-Tel news, Director Carl Thomsen unloaded 5,776 shares of the stock on the open market in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.61, for a total value of $43,955.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of PC-Tel (NASDAQ:PCTI) opened at 7.32 on Wednesday. PC-Tel has a 1-year low of $6.95 and a 1-year high of $10.12. The stock’s 50-day moving average is $7.61 and its 200-day moving average is $8.53. The company has a market cap of $133.9 million and a P/E ratio of 119.84.
PC-Tel (NASDAQ:PCTI) last announced its earnings results on Thursday, April 24th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $23.66 million for the quarter, compared to the consensus estimate of $24.73 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that PC-Tel will post $0.54 earnings per share for the current fiscal year.
PCTEL, Inc (NASDAQ:PCTI) is a provider of propagation and optimization solutions for the wireless industry.
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