Elauwit Connection (NASDAQ:ELWT) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Elauwit Connection (NASDAQ:ELWT) from a hold rating to a strong sell rating in a report published on Saturday.

Separately, Weiss Ratings started coverage on Elauwit Connection in a report on Monday, February 2nd. They set a “sell (e-)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Elauwit Connection has an average rating of “Sell”.

Elauwit Connection Price Performance

Elauwit Connection stock opened at $6.50 on Friday. Elauwit Connection has a 52 week low of $4.11 and a 52 week high of $8.75. The firm has a market cap of $43.03 million and a price-to-earnings ratio of -216.67. The business has a 50 day moving average price of $6.31.

Elauwit Connection (NASDAQ:ELWT) last announced its earnings results on Tuesday, March 31st. The company reported ($0.69) earnings per share (EPS) for the quarter. The business had revenue of $4.68 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELWT. HRT Financial LP purchased a new stake in Elauwit Connection in the 4th quarter worth approximately $108,000. Alyeska Investment Group L.P. acquired a new position in shares of Elauwit Connection in the fourth quarter worth $507,000. Penn Capital Management Company LLC acquired a new position in shares of Elauwit Connection in the fourth quarter worth $1,025,000. Finally, Bard Associates Inc. purchased a new stake in shares of Elauwit Connection during the fourth quarter worth $1,249,000.

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.