New Enterprise Associates VIII, Limited Partnership recently stated that they own 13.9% of Zhone Technologies Inc. (NASDAQ:ZHNE) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, September 19th. The investor owns 4,781,273 shares of the stock worth $5,689,715. The reporting parties listed on the disclosure included New Enterprise Associates VIII, Limited Partnership, New Enterprise Associates 8A, Limited Partnership, NEA Partners VIII, Limited Partnership, New Enterprise Associates 9, Limited Partnership, NEA Partners 9, Limited Partnership, New Enterprise Associates 10, Limited Partnership, NEA Partners 10, Limited Partnership, Michael James Barrett, Peter J Barris and Scott D Sandell. The filing is available through EDGAR at this hyperlink.
Separately, Algert Global LLC boosted its position in Zhone Technologies by 13.5% in the first quarter. Algert Global LLC now owns 316,544 shares of the company’s stock valued at $506,000 after buying an additional 37,718 shares in the last quarter. 22.28% of the stock is currently owned by institutional investors.
Zhone Technologies Inc. (NASDAQ:ZHNE) remained flat at $1.19 during trading on Monday. Zhone Technologies Inc. has a 52 week low of $0.91 and a 52 week high of $1.89. The company’s 50 day moving average is $1.14 and its 200 day moving average is $1.22.
Zhone Technologies (NASDAQ:ZHNE) last released its quarterly earnings results on Thursday, July 21st. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Zhone Technologies had a negative net margin of 6.85% and a negative return on equity of 16.05%. The company had revenue of $22.60 million for the quarter, compared to the consensus estimate of $22.50 million. On average, equities analysts predict that Zhone Technologies Inc. will post ($0.10) earnings per share for the current year.
Separately, Zacks Investment Research cut shares of Zhone Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 28th.
Zhone Technologies Company Profile
Zhone Technologies, Inc designs, develops and manufactures communications network equipment for telecommunications operators and enterprises across the world. The Company’s products provide enterprise solutions that enable both network service providers and enterprises to deliver high speed fiber access, while transporting voice, video and data to the end user.
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