DASAN Zhone Solutions (NASDAQ:DZSI) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of DASAN Zhone Solutions (NASDAQ:DZSI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $14.00 target price on the communications equipment provider’s stock.

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. “

Several other research analysts also recently weighed in on DZSI. B. Riley reissued a buy rating on shares of Goodrich Petroleum in a research note on Monday, May 20th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st.

Shares of DZSI stock opened at $12.48 on Wednesday. The company has a 50-day moving average price of $13.02. DASAN Zhone Solutions has a twelve month low of $9.10 and a twelve month high of $15.59. The firm has a market cap of $207.29 million, a P/E ratio of 62.40 and a beta of 0.41. The company has a quick ratio of 1.53, a current ratio of 1.99 and a debt-to-equity ratio of 0.64.

DASAN Zhone Solutions (NASDAQ:DZSI) last announced its earnings results on Thursday, May 9th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.25. DASAN Zhone Solutions had a net margin of 0.10% and a return on equity of 5.25%. The firm had revenue of $74.09 million during the quarter, compared to the consensus estimate of $73.00 million. On average, sell-side analysts predict that DASAN Zhone Solutions will post 0.47 EPS for the current year.

In other news, CFO Mikhail Golomb bought 10,256 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $9.75 per share, with a total value of $99,996.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 66.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. purchased a new position in DASAN Zhone Solutions during the second quarter worth about $617,000. Geode Capital Management LLC boosted its stake in shares of DASAN Zhone Solutions by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 46,542 shares of the communications equipment provider’s stock valued at $647,000 after purchasing an additional 2,744 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of DASAN Zhone Solutions by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 103,342 shares of the communications equipment provider’s stock valued at $1,438,000 after purchasing an additional 9,381 shares during the period. Northern Trust Corp boosted its stake in shares of DASAN Zhone Solutions by 1.5% in the fourth quarter. Northern Trust Corp now owns 61,018 shares of the communications equipment provider’s stock valued at $849,000 after purchasing an additional 876 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of DASAN Zhone Solutions by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 22,356 shares of the communications equipment provider’s stock valued at $311,000 after purchasing an additional 3,320 shares during the period. 16.02% of the stock is owned by hedge funds and other institutional investors.

About DASAN Zhone Solutions

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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