Ubiquiti Networks Inc (UBNT) Short Interest Down 5.0% in November

Ubiquiti Networks Inc (NASDAQ:UBNT) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 9,051,016 shares, a decrease of 5.0% from the November 15th total of 9,530,723 shares. Based on an average daily volume of 281,451 shares, the days-to-cover ratio is presently 32.2 days. Approximately 42.1% of the company’s stock are sold short.

Ubiquiti Networks (NASDAQ UBNT) traded up $0.18 during mid-day trading on Monday, hitting $65.79. The stock had a trading volume of 457,500 shares, compared to its average volume of 601,332. The firm has a market capitalization of $5,121.23, a P/E ratio of 20.95, a P/E/G ratio of 1.03 and a beta of 0.51. Ubiquiti Networks has a 1-year low of $45.71 and a 1-year high of $68.14.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.06. The business had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. equities analysts anticipate that Ubiquiti Networks will post 3.35 earnings per share for the current fiscal year.

Ubiquiti Networks announced that its board has authorized a stock buyback plan on Tuesday, September 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the Wireless communications provider to purchase up to 18% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

A number of equities analysts recently issued reports on the company. BidaskClub downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. ValuEngine downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. BMO Capital Markets decreased their price objective on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a report on Friday, November 10th. Finally, Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $62.28 price objective for the company. in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and an average target price of $56.86.

Hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. lifted its holdings in shares of Ubiquiti Networks by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,389 shares of the Wireless communications provider’s stock worth $488,000 after purchasing an additional 24 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after purchasing an additional 80 shares during the period. Renaissance Group LLC lifted its holdings in shares of Ubiquiti Networks by 2.1% during the second quarter. Renaissance Group LLC now owns 6,612 shares of the Wireless communications provider’s stock worth $344,000 after purchasing an additional 136 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Ubiquiti Networks by 11.8% during the second quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after purchasing an additional 319 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Ubiquiti Networks by 6.1% during the second quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock worth $826,000 after purchasing an additional 916 shares during the period. 33.83% of the stock is owned by institutional investors and hedge funds.

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About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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