DASAN Zhone Solutions (NASDAQ:DZSI) Downgraded by Zacks Investment Research to Hold

DASAN Zhone Solutions (NASDAQ:DZSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “DASAN Zhone Solutions, Inc. provides broad-based network access solutions. The company provides solutions which consist of broadband access, ethernet switching, mobile backhaul, passive optical LAN and software defined networks. Its trademarks consist of DASAN Zhone Solutions and the DASAN Zhone Solutions logo. DASAN Zhone Solutions, Inc., formerly known as Zhone Technologies, Inc., is headquartered in Oakland, California. “

A number of other research analysts have also recently commented on DZSI. B. Riley restated a “buy” rating on shares of Goodrich Petroleum in a research note on Monday, May 20th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

DZSI stock traded down $0.02 during trading on Friday, reaching $12.48. 62,000 shares of the stock traded hands, compared to its average volume of 48,674. The firm’s 50 day simple moving average is $13.02. DASAN Zhone Solutions has a 52-week low of $9.10 and a 52-week high of $15.59. The company has a quick ratio of 1.53, a current ratio of 1.99 and a debt-to-equity ratio of 0.64. The firm has a market cap of $207.16 million, a price-to-earnings ratio of 62.40 and a beta of 0.41.

DASAN Zhone Solutions (NASDAQ:DZSI) last posted its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.25. DASAN Zhone Solutions had a return on equity of 5.25% and a net margin of 0.10%. The firm had revenue of $74.09 million during the quarter, compared to the consensus estimate of $73.00 million. Equities research analysts anticipate that DASAN Zhone Solutions will post 0.52 EPS for the current year.

In related news, CFO Mikhail Golomb acquired 10,256 shares of DASAN Zhone Solutions stock in a transaction on Monday, May 20th. The shares were bought at an average price of $9.75 per share, for a total transaction of $99,996.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 66.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of DASAN Zhone Solutions by 17.4% during the fourth quarter. Bank of New York Mellon Corp now owns 22,356 shares of the communications equipment provider’s stock worth $311,000 after purchasing an additional 3,320 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of DASAN Zhone Solutions by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 46,542 shares of the communications equipment provider’s stock worth $647,000 after acquiring an additional 2,744 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in shares of DASAN Zhone Solutions in the second quarter worth about $617,000. Northern Trust Corp lifted its stake in shares of DASAN Zhone Solutions by 1.5% in the fourth quarter. Northern Trust Corp now owns 61,018 shares of the communications equipment provider’s stock worth $849,000 after acquiring an additional 876 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of DASAN Zhone Solutions by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 103,342 shares of the communications equipment provider’s stock worth $1,438,000 after acquiring an additional 9,381 shares in the last quarter. Institutional investors own 16.02% of the company’s stock.

DASAN Zhone Solutions Company Profile

DASAN Zhone Solutions, Inc provides network access solutions and communications platforms for service provider and enterprise networks worldwide. It offers broadband access products, including customer premise equipment, such as digital subscriber line (DSL) modems; Ethernet access demarcation devices; and gigabit passive optical network (GPON) and 10G point-to-point active Ethernet optical network terminals.

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