Short Interest in DASAN Zhone Solutions Inc (NASDAQ:DZSI) Grows By 18.2%

DASAN Zhone Solutions Inc (NASDAQ:DZSI) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totalling 137,900 shares, an increase of 18.2% from the May 14th total of 116,700 shares. Based on an average daily trading volume, of 75,700 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.3% of the company’s stock are short sold.

DASAN Zhone Solutions stock traded up $0.16 during mid-day trading on Friday, reaching $9.03. 76,005 shares of the stock traded hands, compared to its average volume of 89,833. DASAN Zhone Solutions has a 12-month low of $2.90 and a 12-month high of $13.34. The business’s 50-day moving average is $6.70 and its 200-day moving average is $7.24. The company has a quick ratio of 2.09, a current ratio of 2.68 and a debt-to-equity ratio of 0.45.

DASAN Zhone Solutions (NASDAQ:DZSI) last released its quarterly earnings results on Thursday, May 7th. The communications equipment provider reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.09. DASAN Zhone Solutions had a negative return on equity of 3.81% and a negative net margin of 7.35%. The business had revenue of $47.48 million during the quarter, compared to the consensus estimate of $45.95 million. As a group, sell-side analysts predict that DASAN Zhone Solutions will post -0.17 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in DASAN Zhone Solutions by 8.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,880 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 1,175 shares in the last quarter. UBS Group AG raised its position in shares of DASAN Zhone Solutions by 21.6% during the 4th quarter. UBS Group AG now owns 11,121 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 1,978 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of DASAN Zhone Solutions by 11.6% during the 4th quarter. Bank of New York Mellon Corp now owns 25,743 shares of the communications equipment provider’s stock valued at $228,000 after buying an additional 2,685 shares in the last quarter. Barclays PLC boosted its holdings in DASAN Zhone Solutions by 96.7% in the 4th quarter. Barclays PLC now owns 7,872 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 3,869 shares during the period. Finally, Geode Capital Management LLC increased its stake in DASAN Zhone Solutions by 3.7% in the 1st quarter. Geode Capital Management LLC now owns 116,300 shares of the communications equipment provider’s stock worth $487,000 after buying an additional 4,136 shares in the last quarter. 23.13% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $10.50 price objective on shares of DASAN Zhone Solutions in a report on Wednesday, June 3rd. TheStreet downgraded shares of DASAN Zhone Solutions from a “c-” rating to a “d+” rating in a report on Friday, March 6th. Finally, Zacks Investment Research lowered shares of DASAN Zhone Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.44.

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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