Boxlight (NASDAQ:BOXL) PT Lowered to $2.50

Boxlight (NASDAQ:BOXL) had its price objective reduced by stock analysts at Alliance Global Partners from $4.50 to $2.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Alliance Global Partners’ price target points to a potential upside of 231.92% from the stock’s previous close.

Separately, HC Wainwright dropped their price objective on Boxlight from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday.

Boxlight Stock Performance

Shares of NASDAQ BOXL traded up $0.02 during trading on Thursday, hitting $0.75. The company had a trading volume of 91,233 shares, compared to its average volume of 51,747. The stock has a 50 day simple moving average of $0.87 and a 200 day simple moving average of $1.29. The firm has a market capitalization of $7.24 million, a P/E ratio of -0.18 and a beta of 1.33. Boxlight has a 12 month low of $0.72 and a 12 month high of $3.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.35 and a current ratio of 2.24.

Boxlight (NASDAQ:BOXL) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.03. The business had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $36.48 million. Boxlight had a negative return on equity of 31.90% and a negative net margin of 22.16%. During the same quarter last year, the business posted ($0.24) EPS. As a group, analysts anticipate that Boxlight will post -1 earnings per share for the current year.

Institutional Investors Weigh In On Boxlight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG purchased a new position in shares of Boxlight in the third quarter worth about $30,000. Geode Capital Management LLC grew its holdings in Boxlight by 18.1% during the first quarter. Geode Capital Management LLC now owns 533,912 shares of the company’s stock worth $204,000 after acquiring an additional 81,885 shares during the period. Renaissance Technologies LLC grew its holdings in Boxlight by 56.8% in the first quarter. Renaissance Technologies LLC now owns 330,298 shares of the company’s stock valued at $126,000 after purchasing an additional 119,698 shares during the period. Millennium Management LLC grew its holdings in Boxlight by 792.8% in the fourth quarter. Millennium Management LLC now owns 549,927 shares of the company’s stock valued at $171,000 after purchasing an additional 488,330 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Boxlight in the third quarter valued at approximately $69,000. 8.25% of the stock is currently owned by hedge funds and other institutional investors.

About Boxlight

Boxlight Corporation develops, sells, and services interactive classroom technology products and solutions for the K-12 education market worldwide. The company provides interactive and non-interactive projectors and flat panel displays, interactive touch projectors, touchboards, and MimioTeach that could turn any whiteboard interactive; and accessory document cameras, teacher pads for remote control, and assessment systems under the Mimio and Clevertouch brands.