PC Tel Inc (NASDAQ:PCTI) Short Interest Up 23.4% in May

PC Tel Inc (NASDAQ:PCTI) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 15,300 shares, a growth of 23.4% from the April 30th total of 12,400 shares. Based on an average daily trading volume, of 51,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Several hedge funds have recently made changes to their positions in the business. Boston Partners purchased a new stake in PC Tel in the 4th quarter valued at $576,000. FDx Advisors Inc. purchased a new stake in PC Tel in the 4th quarter valued at $207,000. 22NW LP purchased a new position in shares of PC Tel during the 4th quarter worth $2,136,000. BlackRock Inc. grew its holdings in shares of PC Tel by 3.4% during the 4th quarter. BlackRock Inc. now owns 532,307 shares of the Wireless communications provider’s stock worth $2,284,000 after purchasing an additional 17,488 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in shares of PC Tel during the 4th quarter worth $406,000. Institutional investors own 62.88% of the company’s stock.

NASDAQ:PCTI traded up $0.10 during mid-day trading on Thursday, reaching $4.74. 2,766 shares of the stock were exchanged, compared to its average volume of 41,475. The company has a market capitalization of $86.19 million, a PE ratio of -20.72 and a beta of 0.16. PC Tel has a 1 year low of $3.88 and a 1 year high of $6.59.

A number of research firms recently issued reports on PCTI. ValuEngine upgraded PC Tel from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded PC Tel from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Saturday, March 16th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. PC Tel presently has an average rating of “Hold” and a consensus target price of $5.33.

About PC Tel

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

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