Zacks Investment Research upgraded shares of Norsat International Inc (NYSE:NSAT) from a hold rating to a buy rating in a research report released on Thursday morning. Zacks Investment Research currently has $9.00 price objective on the stock.

According to Zacks, “NORSAT INTL INC has established a solid history of developing innovative, high quality products, bringing many industry firsts to market. Their current product line includes Microwave Products and Open Network systems based on the Digital Video Broadcasting open standard. Norsat designs, engineers, and markets its microwave products and open standard network solutions world-wide. Norsat’s established reputation, proven track record, and progressive product offering positions the company to achieve its vision. “

Norsat International (NYSE:NSAT) traded up 0.25% during midday trading on Thursday, reaching $7.96. The company’s stock had a trading volume of 1,102 shares. The company’s 50-day moving average is $6.93 and its 200 day moving average is $6.27. The firm has a market cap of $45.89 million and a price-to-earnings ratio of 4.83. Norsat International has a 12-month low of $3.90 and a 12-month high of $8.75.

An institutional investor recently raised its position in Norsat International stock. Hillsdale Investment Management Inc. increased its stake in Norsat International Inc (NYSE:NSAT) by 13.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 110,600 shares of the company’s stock after buying an additional 12,700 shares during the period. Hillsdale Investment Management Inc. owned about 1.92% of Norsat International worth $753,000 as of its most recent SEC filing.

Norsat International Company Profile

Norsat International Inc is a provider of communication solutions used by government organizations, militaries, transportation, resource and marine industry companies, news organizations, public safety search and rescue operators, and others. The Company operates through two segments: Sinclair Technologies and Satellite Communications.

5 Day Chart for NYSE:NSAT

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