DZS (NASDAQ:DZSI) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of DZS (NASDAQ:DZSI) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $9.00 target price on the communications equipment provider’s stock.

DZS Trading Down 1.7 %

Shares of NASDAQ DZSI opened at $1.16 on Wednesday. The firm’s fifty day moving average is $1.38 and its two-hundred day moving average is $1.52. DZS has a 52-week low of $1.08 and a 52-week high of $7.43.

Hedge Funds Weigh In On DZS

Several institutional investors have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in shares of DZS during the 4th quarter valued at approximately $28,000. Ameriprise Financial Inc. bought a new position in DZS during the third quarter valued at $30,000. Wells Fargo & Company MN grew its stake in shares of DZS by 113.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,272 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 4,405 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of DZS by 551.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the communications equipment provider’s stock worth $39,000 after buying an additional 2,893 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of DZS by 166.3% in the 3rd quarter. Deutsche Bank AG now owns 21,429 shares of the communications equipment provider’s stock worth $45,000 after buying an additional 13,383 shares during the last quarter. Hedge funds and other institutional investors own 40.77% of the company’s stock.

DZS Company Profile

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.