Needham & Company LLC Reaffirms “Buy” Rating for DZS (NASDAQ:DZSI)

Needham & Company LLC reaffirmed their buy rating on shares of DZS (NASDAQ:DZSI) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $9.00 price objective on the communications equipment provider’s stock.

DZS Stock Performance

DZSI opened at $1.13 on Wednesday. DZS has a fifty-two week low of $1.06 and a fifty-two week high of $7.43. The stock has a market cap of $35.21 million, a price-to-earnings ratio of -0.64 and a beta of 1.59. The firm’s fifty day moving average is $1.36 and its 200 day moving average is $1.51.

Hedge Funds Weigh In On DZS

A number of hedge funds have recently made changes to their positions in DZSI. Wexford Capital LP purchased a new position in DZS in the 4th quarter worth approximately $28,000. Ameriprise Financial Inc. bought a new stake in shares of DZS during the third quarter valued at approximately $30,000. Wells Fargo & Company MN lifted its holdings in shares of DZS by 113.9% in the second quarter. Wells Fargo & Company MN now owns 8,272 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 4,405 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of DZS by 551.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the communications equipment provider’s stock worth $39,000 after acquiring an additional 2,893 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in DZS by 166.3% during the third quarter. Deutsche Bank AG now owns 21,429 shares of the communications equipment provider’s stock valued at $45,000 after acquiring an additional 13,383 shares in the last quarter. Institutional investors own 40.77% of the company’s stock.

About DZS

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.