ARC Group Worldwide, Inc. (ARCW) Cut to “Sell” at Zacks Investment Research
ARC Group Worldwide, Inc. (NASDAQ:ARCW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of ARC Group Worldwide from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Imperial Capital reiterated an “in-line” rating and issued a $4.50 target price on shares of ARC Group Worldwide in a research note on Wednesday, April 12th.
Shares of ARC Group Worldwide (ARCW) traded up 7.091% on Tuesday, reaching $2.945. The company had a trading volume of 38,828 shares. The stock’s market capitalization is $53.51 million. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $3.99. ARC Group Worldwide has a 52-week low of $2.17 and a 52-week high of $5.95.
ARC Group Worldwide (NASDAQ:ARCW) last posted its earnings results on Monday, May 15th. The technology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.11. The business had revenue of $25.50 million for the quarter, compared to analyst estimates of $28.83 million. ARC Group Worldwide had a negative return on equity of 7.31% and a negative net margin of 0.70%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that ARC Group Worldwide will post ($0.20) earnings per share for the current year.
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An institutional investor recently raised its position in ARC Group Worldwide stock. Stifel Financial Corp raised its position in ARC Group Worldwide, Inc. (NASDAQ:ARCW) by 37.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,845 shares of the technology company’s stock after buying an additional 9,845 shares during the period. Stifel Financial Corp’s holdings in ARC Group Worldwide were worth $151,000 at the end of the most recent reporting period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.
ARC Group Worldwide Company Profile
ARC Group Worldwide, Inc is a manufacturing company. The Company has four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless 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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