Zacks Investment Research downgraded shares of Norsat International Inc (NYSE:NSAT) (TSE:NII) from a buy rating to a hold rating in a research note released on Tuesday.
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) opened at 7.80 on Tuesday. The stock has a market cap of $44.99 million and a P/E ratio of 4.84. Norsat International has a 52-week low of $3.90 and a 52-week high of $8.75. The firm’s 50-day moving average price is $7.93 and its 200 day moving average price is $6.88.
Norsat International (NYSE:NSAT) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The business had revenue of $8.86 million for the quarter, compared to analyst estimates of $37.80 million. Equities analysts predict that Norsat International will post $0.81 earnings per share for the current year.
A hedge fund recently raised its stake in Norsat International stock. Hillsdale Investment Management Inc. raised its stake in Norsat International Inc (NYSE:NSAT) (TSE:NII) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.