Black Box Corporation (NASDAQ:BBOX) shares dropped 45.6% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $3.85 and last traded at $4.05, with a volume of 1,444,546 shares traded. The stock had previously closed at $7.45.

The technology company reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.01 by $0.34. Black Box Corporation had a positive return on equity of 7.74% and a negative net margin of 0.83%. The business had revenue of $191.60 million during the quarter, compared to the consensus estimate of $207.63 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. Black Box Corporation’s quarterly revenue was down 12.3% compared to the same quarter last year.

Separately, Sidoti upgraded Black Box Corporation from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, June 27th.

A number of large investors have recently added to or reduced their stakes in BBOX. Tudor Investment Corp ET AL boosted its position in shares of Black Box Corporation by 11.8% in the first quarter. Tudor Investment Corp ET AL now owns 11,337 shares of the technology company’s stock valued at $101,000 after buying an additional 1,199 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Black Box Corporation during the second quarter valued at about $106,000. KCG Holdings Inc. purchased a new position in shares of Black Box Corporation during the first quarter valued at about $114,000. State of Tennessee Treasury Department boosted its position in shares of Black Box Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 14,595 shares of the technology company’s stock valued at $131,000 after buying an additional 2,203 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Black Box Corporation by 41.3% in the first quarter. Wells Fargo & Company MN now owns 15,991 shares of the technology company’s stock valued at $143,000 after buying an additional 4,671 shares during the last quarter. Institutional investors own 93.45% of the company’s stock.

The stock has a 50-day moving average of $8.06 and a 200 day moving average of $8.99. The stock’s market cap is $60.60 million.

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About Black Box Corporation

Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.

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