Bard Associates Inc. Takes $1.25 Million Position in Elauwit Connection, Inc. $ELWT

Bard Associates Inc. acquired a new stake in Elauwit Connection, Inc. (NASDAQ:ELWT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 246,444 shares of the company’s stock, valued at approximately $1,249,000.

A number of other hedge funds also recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in shares of Elauwit Connection in the fourth quarter valued at approximately $507,000. HRT Financial LP acquired a new position in Elauwit Connection in the 4th quarter valued at about $108,000. Finally, Penn Capital Management Company LLC acquired a new position in Elauwit Connection in the 4th quarter valued at about $1,025,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Elauwit Connection from a “strong sell” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Elauwit Connection Trading Up 2.0%

NASDAQ:ELWT opened at $6.20 on Friday. The firm has a market cap of $41.04 million and a PE ratio of -5.90. The business’s 50 day moving average price is $7.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.30. Elauwit Connection, Inc. has a 1-year low of $4.11 and a 1-year high of $9.72.

Elauwit Connection (NASDAQ:ELWT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.33) earnings per share for the quarter. The company had revenue of $4.43 million during the quarter.

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.