Westell Technologies Inc. (NASDAQ:WSTL)’s stock price dropped 29% during mid-day trading on Thursday . The company traded as low as $0.85 and last traded at $0.88, approximately 536,500 shares were traded during trading. An increase of 1,979% from the average daily volume of 25,805 shares. The stock had previously closed at $1.24.

Separately, ValuEngine lowered shares of Westell Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

The business’s 50 day simple moving average is $1.31 and its 200-day simple moving average is $1.63.

A hedge fund recently raised its stake in Westell Technologies stock. Gradient Investments LLC raised its stake in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 150.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,856 shares of the communications equipment provider’s stock after buying an additional 10,731 shares during the period. Gradient Investments LLC owned about 0.11% of Westell Technologies worth $34,000 as of its most recent SEC filing. Institutional investors own 12.20% of the company’s stock.

About Westell Technologies (NASDAQ:WSTL)

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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