Bard Associates Inc. Makes New Investment in Elauwit Connection, Inc. $ELWT

Bard Associates Inc. purchased a new position in Elauwit Connection, Inc. (NASDAQ:ELWT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 246,444 shares of the company’s stock, valued at approximately $1,249,000. Bard Associates Inc. owned approximately 3.72% of Elauwit Connection at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ELWT. HRT Financial LP bought a new stake in shares of Elauwit Connection in the fourth quarter worth about $108,000. Alyeska Investment Group L.P. bought a new stake in shares of Elauwit Connection in the fourth quarter worth about $507,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Elauwit Connection in the fourth quarter worth about $1,025,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELWT. Weiss Ratings upgraded Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Wall Street Zen upgraded Elauwit Connection from a “strong sell” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Elauwit Connection has a consensus rating of “Sell”.

Elauwit Connection Stock Performance

Shares of NASDAQ ELWT opened at $6.20 on Friday. The company’s 50 day moving average is $7.13. Elauwit Connection, Inc. has a 52 week low of $4.11 and a 52 week 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 firm has a market capitalization of $41.04 million and a PE ratio of -5.90.

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

Elauwit Connection Company Profile

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.