Zacks Investment Research Lowers ARC Group Worldwide, Inc. (ARCW) to Sell

Zacks Investment Research cut shares of ARC Group Worldwide, Inc. (NASDAQ:ARCW) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “

Shares of ARC Group Worldwide (ARCW) traded down 1.92% during mid-day trading on Tuesday, reaching $2.30. 2,580 shares of the company’s stock traded hands. The firm’s market capitalization is $41.79 million. ARC Group Worldwide has a 12-month low of $2.00 and a 12-month high of $5.95. The stock has a 50-day moving average price of $2.44 and a 200 day moving average price of $2.97.

ARC Group Worldwide (NASDAQ:ARCW) last released its quarterly earnings data on Tuesday, September 26th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. ARC Group Worldwide had a negative net margin of 9.94% and a negative return on equity of 7.11%. The company had revenue of $22.10 million during the quarter, compared to analysts’ expectations of $26.50 million. During the same period in the previous year, the company earned ($0.04) EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. Analysts anticipate that ARC Group Worldwide will post ($0.05) EPS for the current fiscal year.

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In other news, Director Jason Taney Young sold 40,289 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $2.35, for a total value of $94,679.15. Following the completion of the sale, the director now owns 490,006 shares of the company’s stock, valued at approximately $1,151,514.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.59% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ARCW. Stifel Financial Corp lifted its position in shares of ARC Group Worldwide by 37.9% in the 1st quarter. Stifel Financial Corp now owns 35,845 shares of the technology company’s stock worth $151,000 after purchasing an additional 9,845 shares during the period. Renaissance Technologies LLC lifted its position in shares of ARC Group Worldwide by 5.5% in the 1st quarter. Renaissance Technologies LLC now owns 181,320 shares of the technology company’s stock worth $762,000 after purchasing an additional 9,506 shares during the period. First Eagle Investment Management LLC lifted its position in shares of ARC Group Worldwide by 7.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,695,576 shares of the technology company’s stock worth $4,917,000 after purchasing an additional 111,154 shares during the period. Finally, Northern Right Capital Management L.P. lifted its position in shares of ARC Group Worldwide by 38.1% in the 2nd quarter. Northern Right Capital Management L.P. now owns 1,052,058 shares of the technology company’s stock worth $2,966,000 after purchasing an additional 290,010 shares during the period. 17.13% of the stock is owned by hedge funds and other institutional investors.

About ARC Group Worldwide

ARC Group Worldwide, Inc is a manufacturing company. The Company has two segments: Precision Components Group, 3DMT Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication.

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