Westell Technologies Inc. (NASDAQ:WSTL) Short Interest Down 46.4% in June

Westell Technologies Inc. (NASDAQ:WSTL) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 8,200 shares, a decrease of 46.4% from the May 30th total of 15,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 29,300 shares, the short-interest ratio is presently 0.3 days.

A hedge fund recently bought a new stake in Westell Technologies stock. Municipal Employees Retirement System of Michigan purchased a new position in shares of Westell Technologies Inc. (NASDAQ:WSTL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 154,680 shares of the communications equipment provider’s stock, valued at approximately $292,000. Municipal Employees Retirement System of Michigan owned approximately 0.99% of Westell Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 13.54% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ WSTL traded down $0.04 during mid-day trading on Thursday, reaching $1.83. 3,600 shares of the stock were exchanged, compared to its average volume of 25,612. The business has a 50 day simple moving average of $1.81. Westell Technologies has a 1 year low of $1.66 and a 1 year high of $3.00.

Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings results on Wednesday, May 29th. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.19). Westell Technologies had a negative return on equity of 5.95% and a negative net margin of 26.12%. The firm had revenue of $9.71 million for the quarter.

About Westell Technologies

Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).

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