Norsat International Inc (NYSE:NSAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $9.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 13.07% from the company’s previous close.
According to Zacks, “NORSAT INTL INC has established a solid history of developing innovative, high quality products, bringing many industry firsts to market. Their current product line includes Microwave Products and Open Network systems based on the Digital Video Broadcasting open standard. Norsat designs, engineers, and markets its microwave products and open standard network solutions world-wide. Norsat’s established reputation, proven track record, and progressive product offering positions the company to achieve its vision. “
Norsat International (NYSE:NSAT) traded up 0.63% during trading on Thursday, reaching $7.99. 12,118 shares of the company’s stock traded hands. Norsat International has a 12 month low of $3.90 and a 12 month high of $8.75. The stock has a market capitalization of $46.06 million and a P/E ratio of 4.85. The company has a 50-day moving average of $6.97 and a 200 day moving average of $6.29.
An institutional investor recently raised its position in Norsat International stock. Hillsdale Investment Management Inc. raised its stake in shares of Norsat International Inc (NYSE:NSAT) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,600 shares of the company’s stock after buying an additional 12,700 shares during the period. Hillsdale Investment Management Inc. owned about 1.92% of Norsat International worth $753,000 as of its most recent SEC filing.
About Norsat International
Norsat International Inc is a provider of communication solutions used by government organizations, militaries, transportation, resource and marine industry companies, news organizations, public safety search and rescue operators, and others. The Company operates through two segments: Sinclair Technologies and Satellite Communications.