Elauwit Connection (NASDAQ:ELWT) Issues Earnings Results

Elauwit Connection (NASDAQ:ELWT) released its quarterly earnings data on Tuesday. The company reported ($0.47) earnings per share (EPS) for the quarter, Zacks reports.

Elauwit Connection Stock Up 4.3%

ELWT stock opened at $8.66 on Tuesday. Elauwit Connection has a fifty-two week low of $4.11 and a fifty-two week high of $9.72. The company has a market capitalization of $57.33 million and a price-to-earnings ratio of -8.25. The business’s 50 day moving average price is $7.20 and its two-hundred day moving average price is $6.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.30.

Institutional Investors Weigh In On Elauwit Connection

A hedge fund recently bought a new position in Elauwit Connection stock. Alyeska Investment Group L.P. acquired a new stake in shares of Elauwit Connection, Inc. (NASDAQ:ELWT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $507,000. Alyeska Investment Group L.P. owned 1.51% of Elauwit Connection at the end of the most recent quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on ELWT shares. Wall Street Zen upgraded shares of Elauwit Connection from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings raised Elauwit Connection from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock 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.