Zacks Investment Research Lowers DASAN Zhone Solutions (NASDAQ:DZSI) to Hold

Zacks Investment Research cut shares of DASAN Zhone Solutions (NASDAQ:DZSI) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “DASAN Zhone Solutions, Inc. provides broad-based network access solutions. The company provides solutions which consist of broadband access, ethernet switching, mobile backhaul, passive optical LAN and software defined networks. Its trademarks consist of DASAN Zhone Solutions and the DASAN Zhone Solutions logo. DASAN Zhone Solutions, Inc., formerly known as Zhone Technologies, Inc., is headquartered in Oakland, California. “

DZSI has been the topic of a number of other research reports. Craig Hallum set a $16.00 target price on shares of DASAN Zhone Solutions and gave the stock a buy rating in a report on Tuesday, October 8th. ValuEngine raised shares of DASAN Zhone Solutions from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Northland Securities reissued an outperform rating and issued a $15.50 target price (down previously from $20.00) on shares of DASAN Zhone Solutions in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $16.00.

Shares of DZSI stock traded down $0.16 during trading hours on Tuesday, hitting $7.36. 1,827 shares of the company were exchanged, compared to its average volume of 156,640. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.44. DASAN Zhone Solutions has a one year low of $6.59 and a one year high of $15.40. The business’s 50-day simple moving average is $9.64 and its two-hundred day simple moving average is $11.16. The stock has a market capitalization of $150.77 million, a price-to-earnings ratio of 37.55 and a beta of 0.24.

DASAN Zhone Solutions (NASDAQ:DZSI) last issued its earnings results on Tuesday, August 13th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.19. DASAN Zhone Solutions had a net margin of 0.43% and a return on equity of 8.37%. The firm had revenue of $83.66 million for the quarter, compared to analysts’ expectations of $84.41 million. As a group, analysts anticipate that DASAN Zhone Solutions will post 0.26 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new stake in shares of DASAN Zhone Solutions in the second quarter valued at approximately $617,000. JPMorgan Chase & Co. increased its stake in shares of DASAN Zhone Solutions by 1,238.4% during the second quarter. JPMorgan Chase & Co. now owns 19,313 shares of the communications equipment provider’s stock valued at $249,000 after acquiring an additional 17,870 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of DASAN Zhone Solutions by 12.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,422 shares of the communications equipment provider’s stock valued at $227,000 after acquiring an additional 1,952 shares during the period. Bank of New York Mellon Corp increased its stake in shares of DASAN Zhone Solutions by 36.0% during the second quarter. Bank of New York Mellon Corp now owns 30,172 shares of the communications equipment provider’s stock valued at $392,000 after acquiring an additional 7,980 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of DASAN Zhone Solutions by 11.3% during the second quarter. Renaissance Technologies LLC now owns 139,697 shares of the communications equipment provider’s stock valued at $1,815,000 after acquiring an additional 14,200 shares during the period. 23.14% of the stock is currently owned by hedge funds and other institutional investors.

DASAN Zhone Solutions Company Profile

DASAN Zhone Solutions, Inc provides network access solutions and communications platforms for service provider and enterprise networks worldwide. It offers broadband access products, including customer premise equipment, such as digital subscriber line (DSL) modems; Ethernet access demarcation devices; and gigabit passive optical network (GPON) and 10G point-to-point active Ethernet optical network terminals.

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