Elauwit Connection (NASDAQ:ELWT) Posts Quarterly Earnings Results

Elauwit Connection (NASDAQ:ELWT) issued its quarterly earnings results on Tuesday. The company reported ($0.69) earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $4.68 million during the quarter.

Elauwit Connection Stock Up 5.3%

ELWT stock traded up $0.32 on Wednesday, reaching $6.25. 30,712 shares of the company were exchanged, compared to its average volume of 60,655. The stock has a market capitalization of $41.34 million and a price-to-earnings ratio of -208.17. Elauwit Connection has a 12 month low of $4.11 and a 12 month high of $8.75. The company has a fifty day simple moving average of $6.30.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on Elauwit Connection in a research note on Monday, February 2nd. They set a “sell (e-)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Trading of Elauwit Connection

An institutional investor recently bought a new position in Elauwit Connection stock. HRT Financial LP acquired a new stake in shares of Elauwit Connection, Inc. (NASDAQ:ELWT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,377 shares of the company’s stock, valued at approximately $108,000. HRT Financial LP owned about 0.32% of Elauwit Connection as of its most recent filing with the Securities & Exchange Commission.

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.