Elauwit Connection (NASDAQ:ELWT) Posts Earnings Results

Elauwit Connection (NASDAQ:ELWT) announced its earnings results on Tuesday. The company reported ($0.69) EPS for the quarter, Zacks reports. The firm had revenue of $4.68 million for the quarter.

Elauwit Connection Price Performance

ELWT stock opened at $6.21 on Thursday. The firm has a market cap of $41.14 million and a PE ratio of -209.53. The stock has a fifty day moving average price of $6.30. Elauwit Connection has a one year low of $4.11 and a one year high of $8.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on Elauwit Connection in a report on Monday, February 2nd. They issued a “sell (e-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Elauwit Connection

An institutional investor recently bought a new position in Elauwit Connection stock. HRT Financial LP purchased a new stake in Elauwit Connection, Inc. (NASDAQ:ELWT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 21,377 shares of the company’s stock, valued at approximately $108,000. HRT Financial LP owned 0.32% of Elauwit Connection at the end of the most recent reporting period.

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.