Elauwit Connection (NASDAQ:ELWT) Issues Earnings Results

Elauwit Connection (NASDAQ:ELWT) released its earnings results on Tuesday. The company reported ($0.47) EPS for the quarter, Zacks reports.

Elauwit Connection Stock Up 4.3%

ELWT opened at $8.66 on Tuesday. Elauwit Connection has a 12 month low of $4.11 and a 12 month high of $9.72. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $7.20 and its 200-day moving average price is $6.91. The company has a market cap of $57.33 million and a P/E ratio of -8.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Elauwit Connection from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings raised Elauwit Connection from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Elauwit Connection currently has an average rating of “Sell”.

Hedge Funds Weigh In On Elauwit Connection

A hedge fund recently bought a new stake in Elauwit Connection stock. Alyeska Investment Group L.P. acquired a new stake in Elauwit Connection, Inc. (NASDAQ:ELWT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company’s stock, valued at approximately $507,000. Alyeska Investment Group L.P. owned about 1.51% 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.