Westell Technologies, Inc. (WSTL) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a sell rating to a hold rating in a research note released on Friday morning.

Separately, Zacks Investment Research cut Westell Technologies from a buy rating to a hold rating in a report on Thursday, April 13th.

Westell Technologies (NASDAQ:WSTL) opened at 2.82 on Friday. Westell Technologies has a 1-year low of $1.76 and a 1-year high of $3.80. The company’s market cap is $43.61 million. The stock has a 50 day moving average price of $2.77 and a 200 day moving average price of $2.66.

Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Wednesday, May 24th. The communications equipment provider reported $0.08 earnings per share for the quarter. Westell Technologies had a negative return on equity of 9.19% and a negative net margin of 25.32%. The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $15.90 million. During the same period last year, the firm posted ($0.16) EPS. The business’s revenue was down 26.3% on a year-over-year basis. Equities analysts forecast that Westell Technologies will post $0.04 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in WSTL. Geode Capital Management LLC boosted its stake in Westell Technologies by 0.4% in the first quarter. Geode Capital Management LLC now owns 250,608 shares of the communications equipment provider’s stock worth $175,000 after buying an additional 1,110 shares in the last quarter. Vanguard Group Inc. boosted its stake in Westell Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,268,439 shares of the communications equipment provider’s stock valued at $888,000 after buying an additional 34,445 shares during the period. Renaissance Technologies LLC boosted its stake in Westell Technologies by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,672,529 shares of the communications equipment provider’s stock valued at $2,387,000 after buying an additional 70,000 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Westell Technologies during the fourth quarter valued at approximately $696,000. 28.98% of the stock is owned by hedge funds and other institutional investors.

About Westell Technologies

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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