Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a strong-buy rating in a research note released on Tuesday morning. They currently have $1.00 price objective on the stock.
According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “
Westell Technologies (NASDAQ:WSTL) opened at 0.7894 on Tuesday. The firm’s 50-day moving average is $0.67 and its 200 day moving average is $0.58. The stock’s market cap is $48.58 million. Westell Technologies has a one year low of $0.44 and a one year high of $1.30.
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Several hedge funds have recently added to or reduced their stakes in WSTL. Renaissance Technologies LLC raised its position in shares of Westell Technologies by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,672,529 shares of the company’s stock valued at $2,387,000 after buying an additional 70,000 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Westell Technologies during the fourth quarter valued at approximately $696,000. Finally, Cove Street Capital LLC raised its position in shares of Westell Technologies by 16.2% in the second quarter. Cove Street Capital LLC now owns 7,734,217 shares of the company’s stock valued at $5,414,000 after buying an additional 1,079,603 shares during the last quarter. 34.45% of the stock is owned by institutional investors and hedge funds.
Westell Technologies Company Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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