Penn Capital Management Company LLC Purchases New Holdings in Elauwit Connection, Inc. $ELWT

Penn Capital Management Company LLC purchased a new stake in Elauwit Connection, Inc. (NASDAQ:ELWT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 202,135 shares of the company’s stock, valued at approximately $1,025,000.

Elauwit Connection Price Performance

NASDAQ ELWT opened at $7.29 on Thursday. The business’s fifty day simple moving average is $7.07. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Elauwit Connection, Inc. has a fifty-two week low of $4.11 and a fifty-two week high of $9.72. The company has a market capitalization of $48.26 million and a PE ratio of -6.94.

Elauwit Connection (NASDAQ:ELWT) last released its earnings results on Thursday, May 14th. The company reported ($0.33) earnings per share for the quarter. The business had revenue of $4.43 million during the quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELWT shares. Wall Street Zen cut Elauwit Connection from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Elauwit Connection Company Profile

We are a provider of broadband Internet networks for the multifamily and student housing property sector. We provide Managed Services and Network-as-a-Service solutions designed to modernize and enhance the Internet connectivity experience for residents while driving significant financial benefits for property owners. We strive to be a leading player in a booming multifamily property conversion trend through service commitment, operational experience and flexibility. Key highlights of our business and market opportunity include: · There is an untapped market to fulfill major demand for network services in multifamily housing units: o According to market estimates from the National Multifamily Housing Council (NMHC), there are approximately 23 million apartment units in the U.S, and we estimate 55% of those units are well-suited for our network services.