Universal Electronics (NASDAQ:UEIC) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Universal Electronics crossed above its 200-day moving average, trading as high as $4.20 and last at $4.11 versus a 200‑day MA of $3.87 on volume ~45,909 shares.
• Analysts are mixed with a consensus rating of "Reduce" and a $5.75 consensus target; Wall Street Zen recently upgraded to "Buy" while Weiss Ratings reaffirmed a "Sell (e+)."
• The company has a small market cap of $52.85 million and a negative P/E (-2.94), and institutional investors own about 79.35% of the stock after several funds increased stakes.

Universal Electronics Inc. (NASDAQ:UEIC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.87 and traded as high as $4.20. Universal Electronics shares last traded at $4.11, with a volume of 45,909 shares trading hands.

Analyst Upgrades and Downgrades

UEIC has been the subject of a number of research reports. Wall Street Zen upgraded Universal Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Universal Electronics in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Universal Electronics has a consensus rating of "Reduce" and a consensus target price of $5.75.

Universal Electronics Price Performance

The firm has a market cap of $52.85 million, a P/E ratio of -2.94 and a beta of 1.38. The stock's 50-day simple moving average is $4.03 and its two-hundred day simple moving average is $3.87.

Hedge Funds Weigh In On Universal Electronics

Large investors have recently bought and sold shares of the business. Kent Lake PR LLC increased its stake in 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 purchasing an additional 185,014 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Universal Electronics by 377.1% during the third quarter. Assenagon Asset Management S.A. now owns 232,589 shares of the technology company's stock valued at $1,084,000 after purchasing an additional 183,836 shares during the period. Peapod Lane Capital LLC grew its holdings 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 worth $1,357,000 after purchasing an additional 165,079 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Universal Electronics by 23.2% in the second quarter. Ameriprise Financial Inc. now owns 875,458 shares of the technology company's stock worth $5,796,000 after purchasing an additional 164,617 shares during the last quarter. Finally, AMH Equity Ltd increased its stake in Universal Electronics by 10.9% in the 3rd quarter. AMH Equity Ltd now owns 800,000 shares of the technology company's stock worth $3,728,000 after buying an additional 78,727 shares during the period. Hedge funds and other institutional investors own 79.35% of the company's stock.

Universal Electronics Company Profile

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.

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