Zacks Investment Research upgraded shares of Norsat International Inc (NYSE:NSAT) from a hold rating to a buy rating in a report released on Thursday. They currently have $9.00 price target on the stock.

According to Zacks, “NORSAT INTL INC has established a solid history of developing innovative, high quality products, bringing many industry firsts to market. Their current product line includes Microwave Products and Open Network systems based on the Digital Video Broadcasting open standard. Norsat designs, engineers, and markets its microwave products and open standard network solutions world-wide. Norsat’s established reputation, proven track record, and progressive product offering positions the company to achieve its vision. “

Shares of Norsat International (NYSE:NSAT) traded up 0.25% during midday trading on Thursday, reaching $7.96. The company’s stock had a trading volume of 1,102 shares. The company has a 50 day moving average price of $6.93 and a 200-day moving average price of $6.27. Norsat International has a 52 week low of $3.90 and a 52 week high of $8.75. The stock has a market capitalization of $45.89 million and a PE ratio of 4.83.

An institutional investor recently raised its position in Norsat International stock. Hillsdale Investment Management Inc. boosted its stake in Norsat International Inc (NYSE:NSAT) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,600 shares of the company’s stock after buying an additional 12,700 shares during the period. Hillsdale Investment Management Inc. owned approximately 1.92% of Norsat International worth $753,000 as of its most recent filing with the SEC.

Norsat International Company Profile

Norsat International Inc is a provider of communication solutions used by government organizations, militaries, transportation, resource and marine industry companies, news organizations, public safety search and rescue operators, and others. The Company operates through two segments: Sinclair Technologies and Satellite Communications.

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