PC Tel (NASDAQ:PCTI) Cut to Hold at ValuEngine

ValuEngine lowered shares of PC Tel (NASDAQ:PCTI) from a buy rating to a hold rating in a research report released on Tuesday morning, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Garrett Motion from a hold rating to a sell rating in a research note on Wednesday, March 20th.

Shares of PCTI stock traded up $0.05 during trading hours on Tuesday, reaching $4.61. The stock had a trading volume of 11,463 shares, compared to its average volume of 73,420. PC Tel has a twelve month low of $3.88 and a twelve month high of $6.33. The company’s 50-day simple moving average is $4.81. The company has a market cap of $87.30 million, a price-to-earnings ratio of -20.04 and a beta of 0.05.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of PC Tel by 3.4% in the 4th quarter. BlackRock Inc. now owns 532,307 shares of the Wireless communications provider’s stock worth $2,284,000 after buying an additional 17,488 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of PC Tel during the fourth quarter valued at approximately $111,000. 1492 Capital Management LLC purchased a new position in shares of PC Tel during the fourth quarter valued at approximately $159,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of PC Tel during the fourth quarter valued at approximately $418,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of PC Tel during the first quarter valued at approximately $145,000. Institutional investors own 62.88% of the company’s stock.

PC Tel Company Profile

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.

Further Reading: Market Perform

To view ValuEngine’s full report, visit ValuEngine’s official website.

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