Zacks Investment Research Lowers Norsat International Inc (NSAT) to Hold
Norsat International Inc (NYSE:NSAT) (TSE:NII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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) opened at 7.90 on Tuesday. The company’s 50-day moving average price is $7.94 and its 200-day moving average price is $6.84. Norsat International has a 12-month low of $3.90 and a 12-month high of $8.75. The stock has a market cap of $45.57 million and a PE ratio of 4.91.
Norsat International (NYSE:NSAT) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $37.80 million. On average, equities analysts expect that Norsat International will post $0.81 EPS for the current fiscal year.
A hedge fund recently raised its stake in Norsat International stock. Hillsdale Investment Management Inc. raised its position in Norsat International Inc (NYSE:NSAT) (TSE:NII) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 1.92% of Norsat International worth $753,000 as of its most recent SEC filing.
About Norsat International
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.
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