Elauwit Connection (NASDAQ:ELWT) Posts Earnings Results

Elauwit Connection (NASDAQ:ELWT) posted its quarterly earnings results on Thursday. The company reported ($0.33) EPS for the quarter, Zacks reports. The firm had revenue of $4.43 million during the quarter.

Elauwit Connection Price Performance

NASDAQ ELWT traded up $0.27 during trading hours on Friday, reaching $8.76. 43,126 shares of the stock traded hands, compared to its average volume of 53,017. The firm has a 50 day moving average price of $6.93. Elauwit Connection has a 1 year low of $4.11 and a 1 year high of $9.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.50 and a current ratio of 1.66. The firm has a market cap of $57.98 million and a P/E ratio of -11.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen lowered Elauwit Connection from a “hold” rating to a “strong sell” rating in a report on Saturday, April 4th. Weiss Ratings upgraded Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Elauwit Connection presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Elauwit Connection

An institutional investor recently bought a new position in Elauwit Connection stock. Alyeska Investment Group L.P. purchased a new stake in shares of Elauwit Connection, Inc. (NASDAQ:ELWT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $507,000. Alyeska Investment Group L.P. owned approximately 1.51% of Elauwit Connection as of its most recent SEC filing.

Elauwit Connection Company Profile

We are a provider of broadband Internet networks for the multifamily and student housing property sector. We provide Managed Services and Network-as-a-Service solutions designed to modernize and enhance the Internet connectivity experience for residents while driving significant financial benefits for property owners. We strive to be a leading player in a booming multifamily property conversion trend through service commitment, operational experience and flexibility. Key highlights of our business and market opportunity include: · There is an untapped market to fulfill major demand for network services in multifamily housing units: o According to market estimates from the National Multifamily Housing Council (NMHC), there are approximately 23 million apartment units in the U.S, and we estimate 55% of those units are well-suited for our network services.