Elauwit Connection (NASDAQ:ELWT) Raised to Sell at Wall Street Zen

Elauwit Connection (NASDAQ:ELWT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings upgraded Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Elauwit Connection Stock Up 2.0%

NASDAQ ELWT opened at $6.20 on Friday. The company’s 50-day moving average price is $7.13. Elauwit Connection has a twelve month low of $4.11 and a twelve month high of $9.72. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $41.04 million and a P/E ratio of -5.90.

Elauwit Connection (NASDAQ:ELWT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.33) earnings per share for the quarter. The business had revenue of $4.43 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in shares of Elauwit Connection during the first quarter valued at about $66,000. Bard Associates Inc. bought a new position in shares of Elauwit Connection during the fourth quarter valued at about $1,249,000. Alyeska Investment Group L.P. bought a new position in shares of Elauwit Connection during the fourth quarter valued at about $507,000. HRT Financial LP bought a new stake in shares of Elauwit Connection in the fourth quarter worth about $108,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Elauwit Connection in the fourth quarter worth about $1,025,000.

About Elauwit Connection

We are a provider of broadband Internet networks for the multifamily and student housing property sector. We provide Managed Services and Network-as-a-Service solutions designed to modernize and enhance the Internet connectivity experience for residents while driving significant financial benefits for property owners. We strive to be a leading player in a booming multifamily property conversion trend through service commitment, operational experience and flexibility. Key highlights of our business and market opportunity include: · There is an untapped market to fulfill major demand for network services in multifamily housing units: o According to market estimates from the National Multifamily Housing Council (NMHC), there are approximately 23 million apartment units in the U.S, and we estimate 55% of those units are well-suited for our network services.