Westell Technologies Inc. (WSTL) Raised to Hold at Zacks Investment Research
Westell Technologies Inc. (NASDAQ:WSTL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Shares of Westell Technologies (NASDAQ:WSTL) opened at 0.4884 on Thursday. The stock’s market cap is $29.83 million. Westell Technologies has a 1-year low of $0.48 and a 1-year high of $1.51. The company’s 50-day moving average price is $0.54 and its 200 day moving average price is $0.79.
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Westell Technologies (NASDAQ:WSTL) last released its earnings results on Wednesday, August 10th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Westell Technologies had a negative return on equity of 18.63% and a negative net margin of 24.69%. The firm had revenue of $14.82 million for the quarter, compared to the consensus estimate of $21.03 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s quarterly revenue was down 31.3% on a year-over-year basis. Equities analysts forecast that Westell Technologies will post ($0.10) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Westell Technologies stock. Emerald Acquisition Ltd. bought a new position in Westell Technologies Inc. (NASDAQ:WSTL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,122,953 shares of the company’s stock, valued at approximately $786,000. Emerald Acquisition Ltd. owned about 1.84% of Westell Technologies as of its most recent SEC filing. 33.73% of the stock is owned by institutional investors.
About Westell Technologies
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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