Weiss Ratings Reiterates "Sell (D-)" Rating for Universal Electronics (NASDAQ:UEIC)

Key Points

• Weiss Ratings has reiterated its "Sell (D-)" rating for Universal Electronics (NASDAQ:UEIC), indicating continued negative sentiment towards the company.
• Rosenblatt Securities downgraded the company's rating from "Buy" to "Neutral," setting a target price of $8.00 for the stock.
• Despite a recent uptick in trading, Universal Electronics has a market capitalization of $60.63 million and faces significant fluctuations, with a 52-week range from $4.25 to $12.50.

Universal Electronics (NASDAQ:UEIC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Rosenblatt Securities cut Universal Electronics from a "buy" rating to a "neutral" rating and set a $8.00 target price for the company. in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $11.00.

Universal Electronics Stock Up 2.1%

Shares of Universal Electronics stock traded up $0.10 during mid-day trading on Tuesday, reaching $4.55. 14,481 shares of the stock traded hands, compared to its average volume of 69,323. The business has a 50-day moving average of $4.82 and a 200 day moving average of $5.73. Universal Electronics has a fifty-two week low of $4.25 and a fifty-two week high of $12.50. The stock has a market capitalization of $60.63 million, a PE ratio of -3.64 and a beta of 1.62.

Institutional Investors Weigh In On Universal Electronics

A number of large investors have recently made changes to their positions in UEIC. Wellington Shields & Co. LLC purchased a new stake in shares of Universal Electronics in the first quarter valued at approximately $45,000. Jump Financial LLC purchased a new position in Universal Electronics in the first quarter worth approximately $68,000. Quadrature Capital Ltd purchased a new position in Universal Electronics in the second quarter worth approximately $82,000. Hsbc Holdings PLC purchased a new position in Universal Electronics in the first quarter worth approximately $118,000. Finally, Corton Capital Inc. purchased a new position in Universal Electronics in the second quarter worth approximately $192,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.

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