In yesterday’s Wall Street session, QualTek Services Inc. (NASDAQ:QTEK) shares traded at $0.33, down -12.24% from the previous session.
QTEK stock price is now -26.89% away from the 50-day moving average and -71.00% away from the 200-day moving average. The market capitalization of the company currently stands at $12.54M.
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In other news, SPITTLER ADAM PAUL, Chief Financial Officer bought 5,500 shares of the company’s stock on Aug 19. The stock was bought for $10,505 at an average price of $1.91. Upon completion of the transaction, the Chief Financial Officer now directly owns 12,750 shares in the company, valued at $4207.5. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, Chief Financial Officer SPITTLER ADAM PAUL bought 7,250 shares of the business’s stock. A total of $10,875 was incurred on buying the stock at an average price of $1.50. This leaves the insider owning 7,250 shares of the company worth $2392.5. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QTEK stock. A new stake in QualTek Services Inc. shares was purchased by ZEKE CAPITAL ADVISORS, LLC during the first quarter worth $1,034,000. FRIESS ASSOCIATES LLC invested $141,000 in shares of QTEK during the first quarter. In the first quarter, MARKS WEALTH, LLC acquired a new stake in QualTek Services Inc. valued at approximately $8,000. VANGUARD GROUP INC acquired a new stake in QTEK for approximately $5,000. NORTHERN TRUST CORP purchased a new stake in QTEK valued at around $5,000 in the second quarter. In total, there are 27 active investors with 57.10% ownership of the company’s stock.
Monday morning saw QualTek Services Inc. (NASDAQ: QTEK) opened at $0.3408. During the past 12 months, QualTek Services Inc. has had a low of $0.27 and a high of $3.79. The fifty day moving average price for QTEK is $0.4501 and a two-hundred day moving average price translates $1.1364 for the stock.
The latest earnings results from QualTek Services Inc. (NASDAQ: QTEK) was released for Sep, 2022. According to the Telecom Services Company, earnings per share came in at -$0.13, missing analysts’ expectations of $0.01 by -0.14. This compares to -$0.18 EPS in the same period last year. The net profit margin was -4.10% and return on equity was -255.60% for QTEK. The company reported revenue of $216.12 million for the quarter, compared to $215.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.31 percent. For the current quarter, analysts expect QTEK to generate $208.96M in revenue.
QualTek Services Inc.(QTEK) Company Profile
QualTek Services Inc. provides communications infrastructure, power grid modernization, and renewable solutions to telecommunications and utilities industries in North America. It operates in two segments, Telecom, and Renewables & 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, including the construction and maintenance of overhead and underground distribution systems. The Renewables and Recovery Logistics segment offers installation, testing, and maintenance for wind farms, solar farms, and fiber optic grids; continuity and disaster relief services to telecommunications and power utility companies; and business-as-usual services, such as generator storage, as well as repair and cell maintenance services. The company was founded in 2012 and is headquartered in Blue Bell, Pennsylvania.
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