Lapides Asset Management LLC lifted its holdings in Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,400 shares of the electronics maker’s stock after purchasing an additional 23,600 shares during the period. Lapides Asset Management LLC owned about 0.56% of Revolution Lighting Technologies worth $770,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in RVLT. First Manhattan Co. purchased a new position in shares of Revolution Lighting Technologies in the 3rd quarter valued at about $100,000. Teachers Advisors LLC purchased a new position in shares of Revolution Lighting Technologies in the 2nd quarter valued at about $143,000. California State Teachers Retirement System purchased a new position in shares of Revolution Lighting Technologies in the 2nd quarter valued at about $144,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Revolution Lighting Technologies in the 2nd quarter valued at about $182,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Revolution Lighting Technologies in the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 34.22% of the company’s stock.
Several equities analysts recently weighed in on the company. TheStreet lowered Revolution Lighting Technologies from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Revolution Lighting Technologies in a research note on Monday, September 25th. ValuEngine lowered Revolution Lighting Technologies from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Finally, Roth Capital set a $8.00 price target on Revolution Lighting Technologies and gave the company a “buy” rating in a research note on Friday, October 27th.
Revolution Lighting Technologies (NASDAQ:RVLT) last announced its quarterly earnings results on Thursday, October 26th. The electronics maker reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Revolution Lighting Technologies had a negative return on equity of 2.39% and a negative net margin of 3.94%. The firm had revenue of $43.10 million during the quarter, compared to analyst estimates of $42.56 million. During the same quarter in the previous year, the business earned $0.11 EPS. Revolution Lighting Technologies’s revenue for the quarter was down 14.1% compared to the same quarter last year. analysts forecast that Revolution Lighting Technologies, Inc. will post -0.42 earnings per share for the current fiscal year.
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About Revolution Lighting Technologies
Revolution Lighting Technologies, Inc designs, manufactures, markets and sells commercial grade light-emitting diode (LED) and conventional lighting fixtures. The Company operates in Lighting Products and Solutions (principally LED fixtures and lamps) segment. The Company’s products are used for outdoor and indoor applications, LED-based signage, channel-letter and contour lighting products, LED replacement lamps and commercial grade smart grid control systems.
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