Westell Technologies, Inc. (NASDAQ:WSTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “

Separately, Northland Securities set a $6.00 target price on Westell Technologies and gave the company a “buy” rating in a research note on Friday, August 11th.

Shares of Westell Technologies (WSTL) opened at 2.81 on Thursday. The stock has a 50 day moving average price of $2.91 and a 200-day moving average price of $2.91. Westell Technologies has a 52 week low of $1.76 and a 52 week high of $3.80. The firm’s market capitalization is $43.28 million.

Westell Technologies (NASDAQ:WSTL) last announced its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $16.57 million for the quarter, compared to analyst estimates of $15.36 million. Westell Technologies had a negative net margin of 13.51% and a negative return on equity of 1.07%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Equities analysts anticipate that Westell Technologies will post $0.10 earnings per share for the current year.

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A hedge fund recently bought a new stake in Westell Technologies stock. Essex Investment Management Co. LLC bought a new position in Westell Technologies, Inc. (NASDAQ:WSTL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned about 0.32% of Westell Technologies as of its most recent SEC filing. 27.18% of the stock is owned by hedge funds and other institutional investors.

About Westell Technologies

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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