PC Tel Inc (NASDAQ:PCTI) shares rose 9.6% during trading on Monday . The stock traded as high as $6.46 and last traded at $6.25, approximately 294,683 shares were traded during trading. An increase of 453% from the average daily volume of 53,272 shares. The stock had previously closed at $5.70.
PCTI has been the topic of several research analyst reports. ValuEngine raised PC Tel from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. B. Riley raised PC Tel from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $6.50 in a research report on Friday, August 9th. Zacks Investment Research raised PC Tel from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research report on Friday. Finally, Lake Street Capital raised PC Tel from a “hold” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $6.00 in a research report on Friday, August 9th.
The firm has a market cap of $100.57 million, a price-to-earnings ratio of -27.17 and a beta of 0.03. The stock has a fifty day moving average price of $4.98 and a 200-day moving average price of $5.02.
PC Tel (NASDAQ:PCTI) last announced its quarterly earnings data on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.40 million. As a group, analysts expect that PC Tel Inc will post 0.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, August 7th. PC Tel’s dividend payout ratio is presently -95.65%.
Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp acquired a new position in PC Tel during the fourth quarter worth $111,000. JPMorgan Chase & Co. grew its holdings in PC Tel by 152.3% during the second quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock worth $123,000 after acquiring an additional 16,600 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in PC Tel during the first quarter worth $145,000. Bailard Inc. acquired a new position in PC Tel during the second quarter worth $149,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in PC Tel by 52.5% during the second quarter. Jacobs Levy Equity Management Inc. now owns 35,682 shares of the Wireless communications provider’s stock worth $158,000 after acquiring an additional 12,290 shares during the period. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
About PC Tel (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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