Royce & Associates LP Has $629,000 Position in Westell Technologies Inc. (WSTL)
Royce & Associates LP decreased its stake in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 40.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 899,038 shares of the company’s stock after selling 611,577 shares during the period. Royce & Associates LP owned 1.48% of Westell Technologies worth $629,000 as of its most recent SEC filing.
Separately, Emerald Acquisition Ltd. acquired a new position in Westell Technologies during the second quarter valued at about $786,000. Hedge funds and other institutional investors own 33.73% of the company’s stock.
Shares of Westell Technologies Inc. (NASDAQ:WSTL) traded up 1.72% during trading on Wednesday, reaching $0.59. 40,190 shares of the company were exchanged. The stock has a 50-day moving average price of $0.58 and a 200-day moving average price of $0.86. The stock’s market capitalization is $36.04 million. Westell Technologies Inc. has a one year low of $0.48 and a one year high of $1.51.
Westell Technologies (NASDAQ:WSTL) last posted its earnings results on Wednesday, August 10th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $14.82 million for the quarter, compared to the consensus estimate of $21.03 million. Westell Technologies had a negative return on equity of 18.63% and a negative net margin of 24.69%. The business’s revenue was down 31.3% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. Analysts forecast that Westell Technologies Inc. will post ($0.10) EPS for the current year.
Separately, Zacks Investment Research downgraded shares of Westell Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 17th.
Westell Technologies Company Profile
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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