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

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

Separately, Weiss Ratings raised shares of 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, Elauwit Connection currently has a consensus rating of “Sell”.

Elauwit Connection Price Performance

Shares of ELWT stock opened at $6.97 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.30. The firm has a 50-day moving average price of $7.07. Elauwit Connection has a one year low of $4.11 and a one year high of $9.72. The stock has a market capitalization of $46.14 million and a P/E ratio of -6.64.

Elauwit Connection (NASDAQ:ELWT) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter. The company had revenue of $4.43 million for the quarter.

Institutional Investors Weigh In On Elauwit Connection

Several large investors have recently made changes to their positions in ELWT. Renaissance Technologies LLC bought a new stake in shares of Elauwit Connection during the 1st quarter worth $66,000. HRT Financial LP bought a new position in Elauwit Connection during the fourth quarter valued at about $108,000. Alyeska Investment Group L.P. bought a new position in Elauwit Connection during the fourth quarter valued at about $507,000. Penn Capital Management Company LLC purchased a new stake in Elauwit Connection during the fourth quarter worth about $1,025,000. Finally, Bard Associates Inc. bought a new stake in Elauwit Connection in the fourth quarter worth about $1,249,000.

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.