Universal Electronics (NASDAQ:UEIC) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Price breakout: UEIC shares traded above their 200-day moving average (200‑day = $3.85), hitting as high as $4.29 and last trading at $4.20 on volume of 48,872 shares.
• Mixed analyst outlook: Wall Street Zen recently upgraded to a "buy" while Weiss Ratings remains a "sell," leaving an average MarketBeat rating of "Reduce" and an average target price of $5.75.
• Small-cap fundamentals and heavy institutional ownership: The company has a market cap of $54.01 million, a negative P/E (-3.00), and institutional investors own about 79.35% of the stock after several funds recently increased stakes.

Shares of Universal Electronics Inc. (NASDAQ:UEIC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.85 and traded as high as $4.29. Universal Electronics shares last traded at $4.20, with a volume of 48,872 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Universal Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Universal Electronics in a research report 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $5.75.

Universal Electronics Trading Down 1.9%

The business has a 50-day moving average price of $4.05 and a 200 day moving average price of $3.85. The stock has a market capitalization of $54.01 million, a P/E ratio of -3.00 and a beta of 1.29.

Institutional Trading of Universal Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of UEIC. NewEdge Advisors LLC purchased a new stake in Universal Electronics during the 3rd quarter valued at $64,000. Quadrature Capital Ltd raised its holdings in Universal Electronics by 47.6% during the 4th quarter. Quadrature Capital Ltd now owns 24,957 shares of the technology company's stock valued at $90,000 after buying an additional 8,044 shares during the period. XTX Topco Ltd raised its holdings in Universal Electronics by 41.5% during the 4th quarter. XTX Topco Ltd now owns 36,175 shares of the technology company's stock valued at $131,000 after buying an additional 10,604 shares during the period. Prelude Capital Management LLC raised its holdings in Universal Electronics by 88.7% during the 3rd quarter. Prelude Capital Management LLC now owns 29,161 shares of the technology company's stock valued at $136,000 after buying an additional 13,705 shares during the period. Finally, Heron Bay Capital Management purchased a new stake in Universal Electronics during the 3rd quarter valued at $148,000. 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.

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