Boxlight (NASDAQ:BOXL) Cut to Hold at ValuEngine

Boxlight (NASDAQ:BOXL) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday, ValuEngine reports.

Several other equities research analysts also recently issued reports on BOXL. Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of Boxlight in a research report on Sunday, October 6th. National Securities assumed coverage on shares of Boxlight in a research report on Tuesday. They set a “buy” rating and a $4.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Boxlight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.08.

BOXL stock traded up $0.12 during mid-day trading on Tuesday, hitting $2.08. 1,752,194 shares of the company were exchanged, compared to its average volume of 450,275. The business has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.82. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $19.93 million, a PE ratio of -5.33 and a beta of 5.69. Boxlight has a 1-year low of $1.14 and a 1-year high of $4.84.

Boxlight (NASDAQ:BOXL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). The firm had revenue of $11.10 million during the quarter, compared to the consensus estimate of $12.42 million. Boxlight had a negative net margin of 20.02% and a negative return on equity of 89.73%. Equities research analysts expect that Boxlight will post -0.41 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Boxlight in the second quarter valued at approximately $33,000. BlackRock Inc. raised its position in shares of Boxlight by 319.9% in the second quarter. BlackRock Inc. now owns 11,660 shares of the company’s stock valued at $36,000 after buying an additional 8,883 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Boxlight in the second quarter valued at approximately $50,000. Finally, Vanguard Group Inc. raised its position in shares of Boxlight by 188.0% in the second quarter. Vanguard Group Inc. now owns 371,327 shares of the company’s stock valued at $1,140,000 after buying an additional 242,393 shares in the last quarter. Hedge funds and other institutional investors own 5.37% of the company’s stock.

About Boxlight

Boxlight Corporation, an education technology company, develops, sells, and services interactive classroom solutions for the education market worldwide. The company provides a range of interactive classroom technology products primarily targeted at the K-12 education market. Its products include interactive projectors, interactive flat panel displays, interactive touch projectors, touchboards, and MimioTeach that could turn any whiteboard interactive; and accessory document cameras, teacher pads for remote control, and assessment systems.

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