DZS (NASDAQ:DZSI) had its price target lifted by investment analysts at B. Riley from $21.00 to $23.50 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s price objective suggests a potential upside of 36.95% from the stock’s previous close.
Several other analysts also recently issued reports on DZSI. Zacks Investment Research downgraded DZS from a “buy” rating to a “hold” rating in a research note on Monday, January 4th. Craig Hallum raised their price target on shares of DZS from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 4th. Finally, Northland Securities reiterated a “buy” rating and set a $17.00 target price on shares of DZS in a research report on Tuesday, December 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.63.
Shares of NASDAQ:DZSI traded down $0.30 during trading on Tuesday, hitting $17.16. 4,077 shares of the company were exchanged, compared to its average volume of 161,023. The company has a current ratio of 2.36, a quick ratio of 1.86 and a debt-to-equity ratio of 0.28. DZS has a fifty-two week low of $2.90 and a fifty-two week high of $18.90. The firm has a fifty day moving average price of $16.74 and a two-hundred day moving average price of $13.05. The stock has a market cap of $376.80 million, a price-to-earnings ratio of -18.79 and a beta of 1.32.
In related news, major shareholder Dasan Networks, Inc acquired 600,000 shares of the stock in a transaction dated Friday, January 29th. The stock was bought at an average price of $14.00 per share, for a total transaction of $8,400,000.00. Following the purchase, the insider now directly owns 10,093,015 shares of the company’s stock, valued at approximately $141,302,210. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 66.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in DZSI. Bank of America Corp DE increased its stake in DZS by 92.9% during the 2nd quarter. Bank of America Corp DE now owns 6,594 shares of the communications equipment provider’s stock valued at $58,000 after purchasing an additional 3,175 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of DZS by 9.4% in the 3rd quarter. Royce & Associates LP now owns 734,069 shares of the communications equipment provider’s stock worth $6,878,000 after buying an additional 63,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in DZS by 40.5% in the third quarter. JPMorgan Chase & Co. now owns 9,669 shares of the communications equipment provider’s stock worth $94,000 after acquiring an additional 2,787 shares during the period. Morgan Stanley raised its holdings in shares of DZS by 177.2% in the 3rd quarter. Morgan Stanley now owns 10,308 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 6,589 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of DZS in the 3rd quarter worth approximately $184,000. Institutional investors and hedge funds own 26.72% of the company’s stock.
DZS Company Profile
DZS Inc provides network access solutions and communications platforms for service provider and enterprise networks in the United States, Canada, Latin America, Europe, the Middle East, Africa, Korea, and other Asia Pacific Countries. It offers broadband access products, including customer premise equipment, such as digital subscriber line (DSL) modems; Ethernet access demarcation devices; and gigabit passive optical network (GPON) and 10G point-to-point active Ethernet optical network terminals.
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