QualTek Services (NASDAQ:QTEK) Price Target Cut to $7.00 by Analysts at DA Davidson

QualTek Services (NASDAQ:QTEKGet Rating) had its price target dropped by DA Davidson to $7.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “underperforrm” rating on the stock. DA Davidson’s price objective indicates a potential upside of 351.61% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Oppenheimer started coverage on QualTek Services in a research report on Wednesday, April 6th. They set an “outperform” rating and a $7.00 price objective for the company. Craig Hallum started coverage on QualTek Services in a research report on Monday, March 14th. They issued a “buy” rating for the company.

QualTek Services stock traded up $0.03 during trading on Thursday, reaching $1.55. The company had a trading volume of 527 shares, compared to its average volume of 235,999. The company has a 50-day moving average of $2.51. QualTek Services has a 1-year low of $1.38 and a 1-year high of $10.43.

QualTek Services (NASDAQ:QTEKGet Rating) last announced its quarterly earnings results on Thursday, March 31st. The company reported ($12.86) earnings per share for the quarter. The firm had revenue of $147.06 million for the quarter. On average, sell-side analysts predict that QualTek Services will post -0.77 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. B. Riley Asset Management LLC acquired a new stake in QualTek Services in the 1st quarter worth about $48,000. Wasatch Advisors Inc. acquired a new position in shares of QualTek Services in the 1st quarter valued at about $4,409,000. ACT Capital Management LLC acquired a new position in shares of QualTek Services in the 1st quarter valued at about $1,137,000. Skylands Capital LLC acquired a new position in shares of QualTek Services in the 1st quarter valued at about $68,000. Finally, Millrace Asset Group Inc. acquired a new position in shares of QualTek Services in the 1st quarter valued at about $953,000.

QualTek Services Company Profile (Get Rating)

QualTek Services Inc provides communications infrastructure, power grid modernization, and renewable solutions to telecommunications and utilities industries in North America. The company operates through two segments, Telecom, and Renewables and Recovery Logistics. The Telecom segment engages in the installation, project management, maintenance, real estate, and site acquisition; fiber optic aerial and underground installation, fiber optic splicing, termination and testing, new installation, engineering, and fulfillment services to telecommunication companies; and electrical contracting, and utility construction and maintenance services to municipalities, electric membership cooperatives, and electric-utility companies.

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