Westell Technologies Inc. (NASDAQ:WSTL) Sees Large Drop in Short Interest
Westell Technologies Inc. (NASDAQ:WSTL) was the target of a significant drop in short interest in the month of November. As of November 29th, there was short interest totalling 16,500 shares, a drop of 19.5% from the November 14th total of 20,500 shares. Based on an average trading volume of 27,500 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are sold short.
Separately, ValuEngine lowered shares of Westell Technologies from a “hold” rating to a “sell” rating in a report on Wednesday.
Shares of NASDAQ:WSTL opened at $0.99 on Thursday. Westell Technologies has a 12 month low of $0.81 and a 12 month high of $2.39. The company’s fifty day simple moving average is $1.10 and its 200 day simple moving average is $1.48.
In related news, CEO Timothy L. Duitsman acquired 44,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $0.90 per share, for a total transaction of $40,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 147,000 shares in the company, valued at approximately $132,300. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 59,500 shares of company stock worth $54,700. 26.70% of the stock is currently owned by company insiders.
Westell Technologies Company Profile
Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).
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