Zacks Investment Research upgraded shares of Westell Technologies Inc. (NASDAQ:WSTL) from a sell rating to a hold rating in a research report released on Thursday morning.

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. “

Shares of Westell Technologies (NASDAQ:WSTL) opened at 0.4903 on Thursday. The company’s market capitalization is $29.95 million. Westell Technologies has a 1-year low of $0.48 and a 1-year high of $1.51. The stock’s 50 day moving average price is $0.53 and its 200 day moving average price is $0.77.

Westell Technologies (NASDAQ:WSTL) last announced its earnings results on Wednesday, August 10th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.02. The business earned $14.82 million during the quarter, compared to analyst estimates of $21.03 million. Westell Technologies had a negative return on equity of 18.63% and a negative net margin of 24.69%. The firm’s revenue was down 31.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share. Analysts expect that Westell Technologies will post ($0.10) EPS for the current year.

A hedge fund recently raised its stake in Westell Technologies stock. Cove Street Capital LLC increased its stake in Westell Technologies Inc. (NASDAQ:WSTL) by 16.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,734,217 shares of the company’s stock after buying an additional 1,079,603 shares during the period. Cove Street Capital LLC owned about 12.66% of Westell Technologies worth $5,414,000 as of its most recent filing with the SEC. 33.73% of the stock is owned by institutional investors and hedge funds.

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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