PC Tel Inc (NASDAQ:PCTI) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 130,100 shares, a growth of 15.0% from the January 15th total of 113,100 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 110,600 shares, the short-interest ratio is currently 1.2 days.

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in PC Tel by 22.2% during the 4th quarter. Russell Investments Group Ltd. now owns 7,479 shares of the Wireless communications provider’s stock valued at $62,000 after buying an additional 1,361 shares during the last quarter. State Street Corp grew its holdings in PC Tel by 18.7% during the 4th quarter. State Street Corp now owns 13,727 shares of the Wireless communications provider’s stock valued at $116,000 after buying an additional 2,165 shares during the last quarter. Virtu Financial LLC acquired a new stake in PC Tel during the 3rd quarter valued at $86,000. Assenagon Asset Management S.A. grew its holdings in PC Tel by 13.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 98,889 shares of the Wireless communications provider’s stock valued at $831,000 after buying an additional 11,489 shares during the last quarter. Finally, Alambic Investment Management L.P. grew its holdings in PC Tel by 16.9% during the 4th quarter. Alambic Investment Management L.P. now owns 88,211 shares of the Wireless communications provider’s stock valued at $747,000 after buying an additional 12,742 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

NASDAQ:PCTI remained flat at $$8.85 during trading hours on Friday. The company’s stock had a trading volume of 50,970 shares, compared to its average volume of 97,375. The firm’s fifty day simple moving average is $8.71 and its 200-day simple moving average is $7.80. The stock has a market capitalization of $162.69 million, a PE ratio of -20.58 and a beta of -0.13. PC Tel has a 52-week low of $4.36 and a 52-week high of $9.65.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, February 6th. PC Tel’s dividend payout ratio (DPR) is presently -95.65%.

PCTI has been the subject of several research analyst reports. ValuEngine downgraded PC Tel from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. B. Riley reaffirmed a “buy” rating and issued a $10.25 price objective on shares of PC Tel in a research note on Friday, January 24th. Lake Street Capital raised their price objective on PC Tel from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Zacks Investment Research raised PC Tel from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, January 29th. Finally, TheStreet downgraded PC Tel from a “b-” rating to a “c+” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.42.

About PC Tel

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

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