Westell Technologies Inc. (NASDAQ:WSTL) Sees Significant Increase in Short Interest

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Westell Technologies Inc. (NASDAQ:WSTL) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 2,100 shares, a growth of 16.7% from the July 15th total of 1,800 shares. Based on an average daily trading volume, of 26,300 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Shares of Westell Technologies stock opened at $1.36 on Tuesday. The company’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $1.95. Westell Technologies has a 52-week low of $1.35 and a 52-week high of $3.00.

Westell Technologies (NASDAQ:WSTL) last posted its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter. Westell Technologies had a negative return on equity of 12.61% and a negative net margin of 34.15%. The firm had revenue of $9.00 million during the quarter.

An institutional investor recently raised its position in Westell Technologies stock. Gradient Investments LLC raised its holdings in Westell Technologies Inc. (NASDAQ:WSTL) by 150.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,856 shares of the communications equipment provider’s stock after acquiring an additional 10,731 shares during the quarter. Gradient Investments LLC owned about 0.11% of Westell Technologies worth $34,000 at the end of the most recent quarter. Institutional investors own 12.41% of the company’s stock.

Westell Technologies Company Profile

Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).

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