PC Tel Inc (NASDAQ:PCTI)’s stock price traded up 5% on Tuesday . The stock traded as high as $5.78 and last traded at $5.63, 102,616 shares changed hands during trading. An increase of 107% from the average session volume of 49,500 shares. The stock had previously closed at $5.36.
Several equities analysts have weighed in on the company. Lake Street Capital upgraded PC Tel from a “hold” rating to a “buy” rating and raised their price objective for the company from $5.00 to $6.00 in a research note on Friday. ValuEngine upgraded PC Tel from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research cut PC Tel from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, B. Riley upgraded PC Tel from a “neutral” rating to a “buy” rating and raised their price objective for the company from $5.00 to $6.50 in a research note on Friday.
The stock’s 50 day simple moving average is $4.84. The company has a market cap of $104.43 million, a price-to-earnings ratio of -24.48 and a beta of 0.04.
PC Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. PC Tel had a negative return on equity of 0.48% and a negative net margin of 12.16%. The business had revenue of $23.50 million for the quarter, compared to analysts’ expectations of $22.40 million. As a group, research analysts expect that PC Tel Inc will post 0.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, August 7th. PC Tel’s dividend payout ratio is presently -95.65%.
Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new stake in shares of PC Tel during the 4th quarter valued at $111,000. JPMorgan Chase & Co. increased its position in shares of PC Tel by 152.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after purchasing an additional 16,600 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of PC Tel during the 1st quarter valued at $145,000. Bailard Inc. purchased a new stake in shares of PC Tel during the 2nd quarter valued at $149,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of PC Tel by 52.5% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 35,682 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 12,290 shares during the last quarter. 62.99% of the stock is owned by hedge funds and other institutional investors.
PC Tel Company Profile (NASDAQ:PCTI)
PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.
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