Norsat International Inc (NYSE:NSAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $9.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.64% from the company’s current price.
According to Zacks, “NORSAT INTL INC has established a solid history of developing innovative, high quality products, bringing many industry firsts to market. Their current product line includes Microwave Products and Open Network systems based on the Digital Video Broadcasting open standard. Norsat designs, engineers, and markets its microwave products and open standard network solutions world-wide. Norsat’s established reputation, proven track record, and progressive product offering positions the company to achieve its vision. “
Norsat International (NYSE:NSAT) opened at 7.99 on Thursday. Norsat International has a 52-week low of $3.90 and a 52-week high of $8.75. The company has a 50-day moving average of $6.97 and a 200-day moving average of $6.29. The stock has a market capitalization of $46.06 million and a price-to-earnings ratio of 4.85.
An institutional investor recently raised its position in Norsat International stock. Hillsdale Investment Management Inc. raised its position in shares of Norsat International Inc (NYSE:NSAT) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,600 shares of the company’s stock after buying an additional 12,700 shares during the period. Hillsdale Investment Management Inc. owned approximately 1.92% of Norsat International worth $753,000 at the end of the most recent quarter.
Norsat International Company Profile
Norsat International Inc is a provider of communication solutions used by government organizations, militaries, transportation, resource and marine industry companies, news organizations, public safety search and rescue operators, and others. The Company operates through two segments: Sinclair Technologies and Satellite Communications.
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