Westell Technologies Inc. (NASDAQ:WSTL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

Shares of Westell Technologies (NASDAQ:WSTL) opened at 0.4884 on Thursday. The company has a 50-day moving average of $0.54 and a 200-day moving average of $0.79. The stock’s market capitalization is $29.83 million. Westell Technologies has a 1-year low of $0.48 and a 1-year high of $1.51.

Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.02. The company earned $14.82 million during the quarter, compared to analysts’ expectations of $21.03 million. Westell Technologies had a negative net margin of 24.69% and a negative return on equity of 18.63%. The business’s quarterly revenue was down 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, equities research analysts expect that Westell Technologies will post ($0.10) EPS for the current fiscal year.

An institutional investor recently raised its position in Westell Technologies stock. Cove Street Capital LLC raised its stake in Westell Technologies Inc. (NASDAQ:WSTL) by 16.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,734,217 shares of the company’s stock after buying an additional 1,079,603 shares during the period. Cove Street Capital LLC owned about 12.66% of Westell Technologies worth $5,414,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.73% of the company’s stock.

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).

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