Westell Technologies Inc. (NASDAQ:WSTL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report 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. “

Westell Technologies (NASDAQ:WSTL) opened at 0.4884 on Thursday. Westell Technologies has a 1-year low of $0.48 and a 1-year high of $1.51. The company has a 50 day moving average of $0.54 and a 200 day moving average of $0.79. The firm’s market capitalization is $29.83 million.

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Westell Technologies (NASDAQ:WSTL) last announced its earnings results on Wednesday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.02. Westell Technologies had a negative net margin of 24.69% and a negative return on equity of 18.63%. The business earned $14.82 million during the quarter, compared to analyst estimates of $21.03 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down 31.3% on a year-over-year basis. Analysts forecast that Westell Technologies will post ($0.10) EPS for the current year.

A hedge fund recently raised its stake in Westell Technologies stock. Cove Street Capital LLC raised its position in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,734,217 shares of the company’s stock after buying an additional 1,079,603 shares during the period. Cove Street Capital LLC owned approximately 12.66% of Westell Technologies worth $5,414,000 at the end of the most recent quarter. Institutional investors own 33.73% of the company’s stock.

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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