StockNews.com Initiates Coverage on PCTEL with a Buy Rating

Equities research analysts at StockNews.com have recently started to monitor PCTEL PCTI, a company known for its industrial IoT devices, antenna systems, and testing & measurement solutions, delivering their initial report on Saturday. The analysts have assigned a 'buy' rating to PCTI, offering a positive outlook for the wireless communications provider's stock.

PCTI Trading Performance and Ratings

PCTI stock commenced trading at $6.85 in the last session. With a history of stock prices oscillating between a low of $3.78 and a peak of $6.89 over the past year, PCTI's shares are now supported by a 50-day simple moving average of $5.36 and a 200-day average standing at $4.92. The company possesses a market capitalization of $131.93 million, a price-to-earnings ratio of 31.14, and a beta of 0.36, indicating less volatility compared to the broader market.

In its recent earnings report for the quarter ending August 8th, PCTI disclosed earnings per share of $0.05 and reported quarterly revenue reaching $20.58 million. The firm also achieved a net margin of 4.91% and a return on equity of 7.94%. With these figures in hand, investors are given a glimpse into the company's financial health and performance. Furthermore, in a parallel analysis, Lake Street Capital has reaffirmed a 'hold' rating for PCTI, reflecting a more cautious investment stance.

Hedge Fund Investment in PCTEL

The stock has caught the attention of multiple hedge funds that have recently adjusted their positions in PCTI. Notably, Quadrature Capital Ltd established a new position valued at $51,000, and Bank of America Corporation BAC significantly expanded its holdings by acquiring 12,063 additional shares, culminating in an investment of approximately $51,000. Moreover, other institutions such as Campbell & CO Investment Adviser LLC, Susquehanna International Group LLP, and Ritholtz Wealth Management, have initiated stakes with values ranging from $63,000 to $89,000, collectively contributing to the 45.39% of PCTI stock owned by institutional investors and hedge funds.

About PCTEL

Headquartered in Bloomingdale, Illinois, PCTI operates on a global scale providing equipment and services essential for the burgeoning industrial Internet of Things sector. Through the design and manufacturing of optimized antennas and innovative IoT devices; PCTI has seen its applications expand into various dynamic markets including small cells, enterprise Wi-Fi, fleet management, transit systems, and multiple industrial IoT scenarios.

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