Elauwit Connection (NASDAQ:ELWT) Announces Quarterly Earnings Results

Elauwit Connection (NASDAQ:ELWT) posted its quarterly earnings data on Thursday. The company reported ($0.33) earnings per share for the quarter, Zacks reports.

Elauwit Connection Trading Down 4.0%

ELWT stock traded down $0.35 during trading hours on Thursday, hitting $8.49. 42,725 shares of the stock traded hands, compared to its average volume of 36,885. The company has a current ratio of 1.66, a quick ratio of 1.50 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $6.93. Elauwit Connection has a one year low of $4.11 and a one year high of $9.72. The firm has a market capitalization of $56.20 million and a P/E ratio of -11.79.

Institutional Investors Weigh In On Elauwit Connection

An institutional investor recently bought a new position in Elauwit Connection stock. HRT Financial LP purchased a new position in Elauwit Connection, Inc. (NASDAQ:ELWT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 21,377 shares of the company’s stock, valued at approximately $108,000. HRT Financial LP owned approximately 0.32% of Elauwit Connection at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELWT. Wall Street Zen lowered shares of Elauwit Connection from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. Weiss Ratings raised Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Elauwit Connection has a consensus rating of “Sell”.

Elauwit Connection Company Profile

We are a provider of broadband Internet networks for the multifamily and student housing property sector. We provide Managed Services and Network-as-a-Service solutions designed to modernize and enhance the Internet connectivity experience for residents while driving significant financial benefits for property owners. We strive to be a leading player in a booming multifamily property conversion trend through service commitment, operational experience and flexibility. Key highlights of our business and market opportunity include: · There is an untapped market to fulfill major demand for network services in multifamily housing units: o According to market estimates from the National Multifamily Housing Council (NMHC), there are approximately 23 million apartment units in the U.S, and we estimate 55% of those units are well-suited for our network services.