Wireless Telecom Group (NYSEAMERICAN:WTT) Cut to “Hold” at Zacks Investment Research

Wireless Telecom Group (NYSEAMERICAN:WTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Wireless Telecom Group is a global provider of noise generation equipment in the telecommunications field. The company’s products have been primarily used to test the performance and capability of cellular/PCS and satellite communications systems. Other applications include radio, radar, wireless local area network and digital television. “

Separately, TheStreet upgraded Wireless Telecom Group from a “d+” rating to a “c-” rating in a research note on Wednesday, June 30th.

NYSEAMERICAN:WTT traded up $0.02 during trading hours on Thursday, reaching $2.05. 5,845 shares of the company traded hands, compared to its average volume of 208,459. The stock has a market capitalization of $45.53 million, a price-to-earnings ratio of -8.54 and a beta of 0.85. Wireless Telecom Group has a 1 year low of $1.33 and a 1 year high of $4.20. The company has a current ratio of 2.22, a quick ratio of 1.28 and a debt-to-equity ratio of 0.25.

Wireless Telecom Group (NYSEAMERICAN:WTT) last posted its quarterly earnings results on Wednesday, August 11th. The technology company reported ($0.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Wireless Telecom Group had a negative return on equity of 3.33% and a negative net margin of 11.15%. The firm had revenue of $12.02 million during the quarter, compared to analysts’ expectations of $11.39 million. As a group, equities research analysts predict that Wireless Telecom Group will post -0.03 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Worth Venture Partners LLC bought a new stake in shares of Wireless Telecom Group in the second quarter worth $1,023,000. Manatuck Hill Partners LLC bought a new stake in shares of Wireless Telecom Group in the second quarter worth $41,000. State Street Corp bought a new stake in shares of Wireless Telecom Group in the second quarter worth $92,000. AIGH Capital Management LLC bought a new stake in shares of Wireless Telecom Group in the second quarter worth $4,397,000. Finally, Renaissance Technologies LLC grew its holdings in Wireless Telecom Group by 3.3% during the first quarter. Renaissance Technologies LLC now owns 1,159,574 shares of the technology company’s stock valued at $1,971,000 after purchasing an additional 37,191 shares during the period. 35.30% of the stock is owned by institutional investors.

Wireless Telecom Group Company Profile

Wireless Telecom Group, Inc engages in the design and manufacture of radio frequency and microwave components, modules, systems, and instruments. Its brands include Boonton, CommAgility, Holzworth, Microlab, and Noisecom. The company was founded in 1985 and is headquartered in Parsippany, NJ.

Read More: What’s a Black Swan?

Get a free copy of the Zacks research report on Wireless Telecom Group (WTT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Wireless Telecom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wireless Telecom Group and related companies with MarketBeat.com's FREE daily email newsletter.