DZS Inc. (NASDAQ:DZSI) Short Interest Up 12.7% in May

DZS Inc. (NASDAQ:DZSIGet Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 1,240,000 shares, an increase of 12.7% from the May 15th total of 1,100,000 shares. Based on an average daily volume of 184,300 shares, the short-interest ratio is presently 6.7 days. Currently, 7.3% of the company’s stock are short sold.

Institutional Investors Weigh In On DZS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kovack Advisors Inc. raised its stake in DZS by 30.4% in the 4th quarter. Kovack Advisors Inc. now owns 120,900 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 28,200 shares in the last quarter. Merlin Capital Inc grew its position in DZS by 199.7% during the third quarter. Merlin Capital Inc now owns 36,398 shares of the communications equipment provider’s stock worth $76,000 after buying an additional 24,252 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in DZS by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,000,673 shares of the communications equipment provider’s stock valued at $2,101,000 after acquiring an additional 6,917 shares in the last quarter. Institutional investors and hedge funds own 40.77% of the company’s stock.

DZS Stock Performance

NASDAQ:DZSI traded up $0.04 during mid-day trading on Friday, hitting $1.45. 143,892 shares of the stock were exchanged, compared to its average volume of 138,808. The firm’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $1.47. The stock has a market capitalization of $45.18 million, a price-to-earnings ratio of -0.82 and a beta of 1.86. DZS has a fifty-two week low of $0.95 and a fifty-two week high of $4.60.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of DZS in a research report on Friday, May 17th.

Read Our Latest Stock Analysis on DZS

About DZS

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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.

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