CUI Global (NASDAQ:CUI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “CUI Global Inc., formerly known as Waytronx Inc., is primarily engaged in the acquisition and development of innovative companies and technologies. CUI through its subsidiaries in engaged in the manufacture and supply of external adapters and embedded ac-dc power supplies, dc-dc converters, LED driver modules, and digital point-of-load modules. rotary encoders for motion control applications and other interconnect, sound, and thermal products. The Company also holds a 49% stake in Comex, a Japanese DSP-based hardware and software company that specializes in test and measurement equipment. It focuses on applications that demand high speed multiple channel measurement. CUI Global Inc. is based in Tualatin, Oregon. “
Other equities research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of CUI Global in a report on Monday, October 9th. ValuEngine upgraded CUI Global from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.00.
In related news, CFO Daniel Ned Ford acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were purchased at an average price of $2.80 per share, for a total transaction of $35,000.00. Following the completion of the acquisition, the chief financial officer now owns 49,554 shares in the company, valued at $138,751.20. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders bought 25,000 shares of company stock worth $68,600. Company insiders own 5.23% of the company’s stock.
An institutional investor recently raised its position in CUI Global stock. Vanguard Group Inc. lifted its stake in CUI Global Inc (NASDAQ:CUI) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 859,350 shares of the industrial products company’s stock after buying an additional 6,657 shares during the period. Vanguard Group Inc. owned approximately 4.10% of CUI Global worth $3,300,000 as of its most recent SEC filing. Institutional investors and hedge funds own 45.75% of the company’s stock.
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About CUI Global
CUI Global, Inc is a platform company. The Company’s segments include Power and Electromechanical, Energy and Other. The Power and Electromechanical segment includes its subsidiaries, CUI, Inc (CUI), CUI Japan and CUI-Canada, Inc, which provide electromechanical components, including power supplies, transformers, converters, connectors and industrial controls for original equipment manufacturers (OEMs).
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