Universal Electronics (NASDAQ:UEIC) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Universal Electronics Inc. (NASDAQ:UEIC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.84 and traded as high as $4.33. Universal Electronics shares last traded at $4.15, with a volume of 34,388 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UEIC. Wall Street Zen raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Universal Electronics in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $5.75.

Universal Electronics Stock Down 4.6%

The stock has a market cap of $52.35 million, a PE ratio of -2.96 and a beta of 1.29. The company has a fifty day moving average price of $4.10 and a 200 day moving average price of $3.84.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UEIC. Kent Lake PR LLC increased its holdings in shares of Universal Electronics by 17.2% in the second quarter. Kent Lake PR LLC now owns 1,260,642 shares of the technology company’s stock worth $8,345,000 after buying an additional 185,014 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Universal Electronics by 377.1% in the third quarter. Assenagon Asset Management S.A. now owns 232,589 shares of the technology company’s stock worth $1,084,000 after buying an additional 183,836 shares during the period. Peapod Lane Capital LLC increased its position in shares of Universal Electronics by 130.9% in the third quarter. Peapod Lane Capital LLC now owns 291,164 shares of the technology company’s stock valued at $1,357,000 after acquiring an additional 165,079 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Universal Electronics by 23.2% during the second quarter. Ameriprise Financial Inc. now owns 875,458 shares of the technology company’s stock valued at $5,796,000 after acquiring an additional 164,617 shares during the last quarter. Finally, AMH Equity Ltd raised its stake in shares of Universal Electronics by 10.9% during the third quarter. AMH Equity Ltd now owns 800,000 shares of the technology company’s stock valued at $3,728,000 after acquiring an additional 78,727 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

About Universal Electronics

Universal Electronics Inc (NASDAQ:UEIC) is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.