Elauwit Connection, Inc. (NASDAQ:ELWT) Shares Shorted: Short Interest Down 41.7% in September

Elauwit Connection, Inc. (NASDAQ:ELWT) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 12,673 shares, a decrease of 41.7% from the August 31st total of 21,746 shares. Based on an average daily trading volume, of 14,477 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ELWT shares. Weiss Ratings upgraded shares of Elauwit Connection from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Elauwit Connection from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Elauwit Connection

A number of institutional investors and hedge funds have recently modified their holdings of ELWT. Bard Associates Inc. acquired a new position in shares of Elauwit Connection during the 2nd quarter worth about $3,628,000. Renaissance Technologies LLC acquired a new stake in Elauwit Connection in the 1st quarter worth about $66,000. Integrated Wealth Concepts LLC acquired a new stake in Elauwit Connection in the 2nd quarter worth about $73,000. Finally, BlackRock Inc. purchased a new stake in Elauwit Connection during the 2nd quarter worth approximately $59,000.

Elauwit Connection Price Performance

Shares of NASDAQ:ELWT traded down $0.46 during midday trading on Wednesday, reaching $6.45. 1,799 shares of the company’s stock traded hands, compared to its average volume of 12,583. Elauwit Connection has a 1 year low of $4.11 and a 1 year high of $9.72. The company has a market cap of $42.70 million and a P/E ratio of -4.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.90. The company has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $7.14.

Elauwit Connection (NASDAQ:ELWT) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.47) EPS for the quarter. The company had revenue of $2.86 million during the quarter. Elauwit Connection had a negative return on equity of 10,945.00% and a negative net margin of 53.11%.

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.