Bard Associates Inc. Makes New $3.63 Million Investment in Elauwit Connection, Inc. $ELWT

Bard Associates Inc. bought a new stake in Elauwit Connection, Inc. (NASDAQ:ELWT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 506,039 shares of the company’s stock, valued at approximately $3,628,000. Bard Associates Inc. owned approximately 0.08% of Elauwit Connection at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Elauwit Connection during the 2nd quarter worth approximately $59,000. Renaissance Technologies LLC acquired a new position in Elauwit Connection during the first quarter worth $66,000. HRT Financial LP acquired a new position in Elauwit Connection during the fourth quarter worth $108,000. Alyeska Investment Group L.P. purchased a new stake in Elauwit Connection during the fourth quarter worth $507,000. Finally, Penn Capital Management Company LLC acquired a new stake in Elauwit Connection in the fourth quarter valued at $1,025,000.

Elauwit Connection Price Performance

Elauwit Connection stock opened at $7.29 on Friday. Elauwit Connection, Inc. has a 1 year low of $4.11 and a 1 year high of $9.72. The firm has a 50 day moving average price of $7.29 and a 200 day moving average price of $6.96. The company has a market cap of $48.26 million and a price-to-earnings ratio of -4.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 0.90.

Elauwit Connection (NASDAQ:ELWT) last issued its earnings results on Tuesday, August 18th. The company reported ($0.47) earnings per share for the quarter. Elauwit Connection had a negative return on equity of 10,926.68% and a negative net margin of 53.11%.The firm had revenue of $2.86 million during the quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ELWT. Weiss Ratings upgraded Elauwit Connection from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Wall Street Zen raised shares of Elauwit Connection from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Elauwit Connection presently has an average rating of “Sell”.

About Elauwit Connection

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.