ARC Group Worldwide, Inc. (NASDAQ:ARCW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

ARC Group Worldwide (NASDAQ:ARCW) traded down 6.00% during midday trading on Tuesday, hitting $2.35. 20,284 shares of the stock traded hands. ARC Group Worldwide has a 1-year low of $2.00 and a 1-year high of $5.95. The stock’s market cap is $42.70 million. The company has a 50-day moving average of $2.44 and a 200-day moving average of $3.02.

ARC Group Worldwide (NASDAQ:ARCW) last posted its quarterly earnings data on Tuesday, September 26th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. ARC Group Worldwide had a negative net margin of 9.94% and a negative return on equity of 7.11%. The business had revenue of $22.10 million during the quarter, compared to the consensus estimate of $26.50 million. During the same period in the prior year, the firm earned ($0.04) EPS. ARC Group Worldwide’s quarterly revenue was down 12.6% compared to the same quarter last year. On average, equities analysts expect that ARC Group Worldwide will post ($0.05) EPS for the current fiscal year.

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In other ARC Group Worldwide news, Director Jason Taney Young sold 40,289 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $2.35, for a total value of $94,679.15. Following the completion of the sale, the director now directly owns 490,006 shares of the company’s stock, valued at approximately $1,151,514.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.59% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in ARC Group Worldwide by 5.5% in the 1st quarter. Renaissance Technologies LLC now owns 181,320 shares of the technology company’s stock valued at $762,000 after purchasing an additional 9,506 shares during the period. Stifel Financial Corp boosted its holdings in ARC Group Worldwide by 37.9% in the 1st quarter. Stifel Financial Corp now owns 35,845 shares of the technology company’s stock valued at $151,000 after purchasing an additional 9,845 shares during the period. First Eagle Investment Management LLC boosted its holdings in ARC Group Worldwide by 7.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,695,576 shares of the technology company’s stock valued at $4,917,000 after purchasing an additional 111,154 shares during the period. Finally, Northern Right Capital Management L.P. boosted its holdings in ARC Group Worldwide by 38.1% in the 2nd quarter. Northern Right Capital Management L.P. now owns 1,052,058 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 290,010 shares during the period. 17.13% of the stock is owned by hedge funds and other institutional investors.

ARC Group Worldwide Company Profile

ARC Group Worldwide, Inc is a manufacturing company. The Company has two segments: Precision Components Group, 3DMT 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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