Penn Capital Management Company LLC Makes New Investment in Elauwit Connection, Inc. $ELWT

Penn Capital Management Company LLC purchased a new position in shares of Elauwit Connection, Inc. (NASDAQ:ELWT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 202,135 shares of the company’s stock, valued at approximately $1,025,000. Penn Capital Management Company LLC owned about 3.05% of Elauwit Connection as of its most recent SEC filing.

Elauwit Connection Trading Up 1.4%

Elauwit Connection stock opened at $7.29 on Thursday. Elauwit Connection, Inc. has a 12 month low of $4.11 and a 12 month high of $9.72. The company has a 50 day moving average price of $7.07. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $48.26 million and a P/E ratio of -6.94.

Elauwit Connection (NASDAQ:ELWT) last posted its earnings results on Thursday, May 14th. The company reported ($0.33) EPS for the quarter. The firm had revenue of $4.43 million during the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ELWT. Wall Street Zen downgraded Elauwit Connection from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 4th. Weiss Ratings raised Elauwit Connection from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Elauwit Connection has an average rating of “Sell”.

About Elauwit Connection

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.