Notable Price Action: What’s Next for Ubiquiti Networks Inc After Achieving 52-Week High?

Notable Price Action: What's Next for Ubiquiti Networks Inc After Achieving 52 Week High?

The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) hit a new 52-week high and has $66.28 target or 23.00% above today’s $53.89 share price. The 9 months bullish chart indicates low risk for the $4.43B company. The 1-year high was reported on Nov, 4 by Barchart.com. If the $66.28 price target is reached, the company will be worth $1.02 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.12M shares traded hands or 161.01% up from the average. Ubiquiti Networks Inc (NASDAQ:UBNT) has risen 52.28% since April 4, 2016 and is uptrending. It has outperformed by 51.19% the S&P500.

Ubiquiti Networks Inc (NASDAQ:UBNT) Ratings Coverage

Out of 8 analysts covering Ubiquiti Networks Inc (NASDAQ:UBNT), 1 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 13% are positive. $66 is the highest target while $14 is the lowest. The $35.20 average target is -34.68% below today’s ($53.89) stock price. Ubiquiti Networks Inc has been the topic of 20 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has “Mkt Perform” rating given on Thursday, January 14 by Bernstein. On Friday, August 7 the stock rating was maintained by Deutsche Bank with “Hold”. Deutsche Bank maintained Ubiquiti Networks Inc (NASDAQ:UBNT) rating on Friday, August 7. Deutsche Bank has “Hold” rating and $25.0 price target. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) earned “Underperform” rating by BMO Capital Markets on Monday, September 21. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has “Buy” rating given on Thursday, August 13 by Zacks. Morgan Stanley downgraded Ubiquiti Networks Inc (NASDAQ:UBNT) on Tuesday, October 20 to “Underweight” rating. The firm earned “Market Perform” rating on Friday, May 6 by BMO Capital Markets. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has “Buy” rating given on Friday, May 6 by Wunderlich. The rating was downgraded by Raymond James on Friday, August 7 to “Underperform”. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has “Buy” rating given on Friday, November 4 by Wunderlich.

According to Zacks Investment Research, “Ubiquiti Networks, Inc. is engaged in the business of designing, manufacturing and selling broadband wireless solutions worldwide. Its products and solutions include radios, antennas and management tools and other applications in the unlicensed radio frequency spectrum. Ubiquiti Networks, Inc. is headquartered in San Jose, California.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.31, from 1.34 in 2016Q1. The ratio worsened, as 19 funds sold all Ubiquiti Networks Inc shares owned while 51 reduced positions. 29 funds bought stakes while 43 increased positions. They now own 24.23 million shares or 11.14% less from 27.26 million shares in 2016Q1.
Twin Capital Management, a Pennsylvania-based fund reported 44,230 shares. Teacher Retirement System Of Texas holds 0% of its portfolio in Ubiquiti Networks Inc (NASDAQ:UBNT) for 4,140 shares. Parametrica Mngmt Ltd has 7,832 shares for 0.45% of their US portfolio. Wellington Gru Llp holds 0% or 175,862 shares in its portfolio. Capital Impact Lc holds 0.43% of its portfolio in Ubiquiti Networks Inc (NASDAQ:UBNT) for 23,989 shares. California Pub Employees Retirement has 73,200 shares for 0% of their US portfolio. Gagnon Ltd, a New York-based fund reported 9,355 shares. Blackrock Japan last reported 0% of its portfolio in the stock. Origin Asset Ltd Liability Partnership has 0.65% invested in the company for 252,499 shares. Thompson Davis & holds 0.02% of its portfolio in Ubiquiti Networks Inc (NASDAQ:UBNT) for 375 shares. Huntington National Bank & Trust accumulated 4,173 shares or 0% of the stock. California State Teachers Retirement accumulated 54,421 shares or 0% of the stock. Akre Ltd accumulated 2.29% or 2.68 million shares. Ing Groep Nv last reported 25,385 shares in the company. Dupont Mgmt has 26,518 shares for 0.02% of their US portfolio.

More notable recent Ubiquiti Networks Inc (NASDAQ:UBNT) news were published by: Fool.com which released: “Ubiquiti Networks Sustains Its Positive Momentum” on November 04, 2016, also Benzinga.com with their article: “Stocks Hitting 52-Week Highs” published on November 04, 2016, Fool.com published: “Ubiquiti Networks Inc. Rides UniFi Strength to Another Strong Quarter” on May 06, 2016. More interesting news about Ubiquiti Networks Inc (NASDAQ:UBNT) were released by: Fool.com and their article: “Why Ubiquiti Networks Inc. Stock Soared Today” published on February 05, 2016 as well as Fool.com‘s news article titled: “Ubiquiti Networks Inc. Reports Meager Growth” with publication date: November 09, 2015.

UBNT Company Profile

Ubiquiti Networks, Inc., incorporated on June 24, 2010, develops performance networking technology for service providers and enterprises. The Firm offers a portfolio of networking products and solutions. The Company’s service well-known provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s enterprise product platforms provide wireless local area network (WLAN) infrastructure, video surveillance products, switching and routing solutions, and machine-to-machine communication components. The Company’s products and solutions include radios, antennas, software, communications protocols and management tools that are designed to deliver carrier and enterprise class wireless broadband access and other services primarily in the unlicensed radio frequency (RF) spectrum. The Company’s service well-known provider and carrier solutions include Base Station/Backhaul/Customer Premise Equipment (CPE)/Bridge-airMAX, Network Routing Platform-EdgeMAX, Point-to-point Wireless Backhaul-airFiber and Solar Platform-sunMAX. The Company’s enterprise solutions include Enterprise WLAN-UniFi, Video Surveillance-UniFi Video, UniFi Switch, UniFi Security Gateway and Machine-To-Machine Communication-mFi.

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