Short Interest in PC-Tel Decreases By 89.7% (PCTI)
Shares of PC-Tel (NASDAQ:PCTI) were the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 112,308 shares, a decline of 89.7% from the June 30th total of 1,095,054 shares, AnalystRatings.Net reports. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 123,082 shares, the days-to-cover ratio is currently 0.9 days.
Shares of PC-Tel (NASDAQ:PCTI) opened at 8.13 on Wednesday. PC-Tel has a one year low of $6.95 and a one year high of $10.12. The stock’s 50-day moving average is $7.68 and its 200-day moving average is $8.14. The company has a market cap of $148.7 million and a P/E ratio of 131.80.
PC-Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.11 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.11. The company had revenue of $26.18 million for the quarter, compared to the consensus estimate of $27.10 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was down 2.1% 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.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 8th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, August 6th.
PCTEL, Inc (NASDAQ:PCTI) is a provider of propagation and optimization solutions for the wireless industry.
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