Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $3.25 price target on the communications equipment provider’s stock.

According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “

A number of other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Westell Technologies from a sell rating to a hold rating in a research note on Friday, June 9th. Northland Securities set a $6.00 price target on Westell Technologies and gave the company a buy rating in a research note on Friday, August 11th.

Westell Technologies (NASDAQ WSTL) traded down 1.38% during trading on Thursday, hitting $2.85. 63,207 shares of the stock were exchanged. The stock’s market cap is $43.90 million. The firm’s 50 day moving average price is $2.94 and its 200-day moving average price is $2.90. Westell Technologies has a 1-year low of $1.76 and a 1-year high of $3.80.

Westell Technologies (NASDAQ:WSTL) last posted its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Westell Technologies had a negative net margin of 13.51% and a negative return on equity of 1.07%. The business had revenue of $16.57 million during the quarter, compared to the consensus estimate of $15.36 million. During the same quarter last year, the company posted ($0.06) EPS. The firm’s revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Westell Technologies will post $0.10 EPS for the current year.

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A hedge fund recently raised its stake in Westell Technologies stock. Renaissance Technologies LLC boosted its holdings in Westell Technologies, Inc. (NASDAQ:WSTL) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,773,429 shares of the communications equipment provider’s stock after acquiring an additional 100,900 shares during the period. Renaissance Technologies LLC owned 6.13% of Westell Technologies worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission. 27.18% of the stock is owned by hedge funds and other institutional investors.

About Westell Technologies

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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