Westell Technologies, Inc. (NASDAQ:WSTL) released its quarterly earnings data on Wednesday. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01, Morningstar.com reports. The business had revenue of $16.57 million during the quarter, compared to analysts’ expectations of $15.36 million. Westell Technologies had a negative net margin of 25.32% and a negative return on equity of 9.19%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned ($0.06) earnings per share.
Westell Technologies (NASDAQ WSTL) traded down 5.14% during mid-day trading on Thursday, hitting $3.14. 8,018 shares of the stock traded hands. Westell Technologies has a 12-month low of $1.76 and a 12-month high of $3.80. The stock’s market cap is $48.56 million. The company has a 50 day moving average of $3.19 and a 200-day moving average of $2.87.
Several research firms have recently commented on WSTL. ValuEngine raised shares of Westell Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research downgraded shares of Westell Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 13th.
An institutional investor recently bought a new position in Westell Technologies stock. Essex Investment Management Co. LLC bought a new position in Westell Technologies, Inc. (NASDAQ:WSTL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned about 0.32% of Westell Technologies as of its most recent filing with the SEC.
Westell Technologies announced that its board has approved a stock repurchase plan on Wednesday, May 17th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to purchase up to 59% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Westell Technologies Company Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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