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QualTek Services Inc. (NASDAQ: QTEK) Stocks Rise 13.43% YTD; What Next For It?

QualTek Services Inc. (NASDAQ:QTEK)’s traded shares stood at 4.81 million during the last session. At the last check today, the stock’s price was $0.50, to imply an increase of 78.57% or $0.22 in intraday trading. The QTEK share’s 52-week high remains $3.79, putting it -658.0% down since that peak but still an impressive 46.0% since price per share fell to its 52-week low of $0.27. The company has a valuation of $14.65M, with an average of 81250.0 shares in intraday trading volume over the past 10 days and average of 76.26K shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for QualTek Services Inc. (QTEK), translating to a mean rating of 1.70. Of 3 analyst(s) looking at the stock, 0 analyst(s) give QTEK a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.18.

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QualTek Services Inc. (NASDAQ:QTEK) trade information

After registering a 78.57% upside in the latest session, QualTek Services Inc. (QTEK) has traded red over the past five days. The stock hit a weekly high of 0.6400 this Thursday, 03/16/23, jumping 78.57% in its intraday price action. The 5-day price performance for the stock is 28.24%, and 11.11% over 30 days. With these gigs, the year-to-date price performance is 13.43%. Short interest in QualTek Services Inc. (NASDAQ:QTEK) saw shorts transact 0.46 million shares and set a 4.99 days time to cover.

Analysts on Wall Street suggest a consensus price target of $3.75, implying an increase of 86.67% to the stock’s recent value. The extremes give us $3.50 and $4.00 for target low and target high price respectively. As such, QTEK has been trading -700.0% off suggested target high and -600.0% from its likely low.

QualTek Services Inc. (QTEK) estimates and forecasts

The rating firms project that company’s revenue will grow 23.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 3 analysts is $208.96 million. Meanwhile, for the quarter ending Mar 2023, a total of 2 analyst(s) estimate revenue growth to $166.3 million.Earnings reports from the last fiscal year show that sales brought in $147.06 million and $148.16 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 42.10% before jumping 12.20% in the following quarter.

QTEK Dividends

QualTek Services Inc. has its next earnings report out on November 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. QualTek Services Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

QualTek Services Inc. (NASDAQ:QTEK)’s Major holders

QualTek Services Inc. insiders hold 0.46% of total outstanding shares, with institutional holders owning 57.03% of the shares at 57.30% float percentage. In total, 57.03% institutions holds shares in the company, led by Wasatch Advisors Inc. As of Sep 29, 2022, the company held over 1.22 million shares (or 4.37% of shares), all amounting to roughly $2.44 million.

The next major institution holding the largest number of shares is Legacy Advisors, LLC with 0.32 million shares, or about 1.16% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $0.14 million.

We also have Wasatch Microcap Fund and Fidelity Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the QualTek Services Inc. (QTEK) shares. Going by data provided on Sep 29, 2022, Wasatch Microcap Fund holds roughly 1.18 million shares. This is just over 4.24% of the total shares, with a market valuation of $2.37 million. Data from the same date shows that the other fund manager holds a little less at 78452.0, or 0.28% of the shares, all valued at about 62408.0.

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