Needham & Company LLC Reaffirms “Buy” Rating for DZS (NASDAQ:DZSI)

Needham & Company LLC reaffirmed their buy rating on shares of DZS (NASDAQ:DZSI) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $9.00 price objective on the communications equipment provider’s stock.

DZS Stock Performance

Shares of DZS stock opened at $1.16 on Wednesday. DZS has a twelve month low of $1.08 and a twelve month high of $7.43. The business has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.52.

Institutional Trading of DZS

Institutional investors and hedge funds have recently made changes to their positions in the business. Wexford Capital LP purchased a new position in shares of DZS during the 4th quarter valued at approximately $28,000. Ameriprise Financial Inc. acquired a new position in DZS during the third quarter worth $30,000. Wells Fargo & Company MN raised its position in DZS by 113.9% during the second quarter. Wells Fargo & Company MN now owns 8,272 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 4,405 shares during the period. Tower Research Capital LLC TRC lifted its holdings in DZS by 551.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 2,893 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of DZS by 166.3% in the third quarter. Deutsche Bank AG now owns 21,429 shares of the communications equipment provider’s stock valued at $45,000 after purchasing an additional 13,383 shares during the period. 40.77% of the stock is currently owned by hedge funds and other institutional investors.

DZS Company Profile

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.