It is trading at $62.18 barely above the 50 day moving average of $57.92 and quite a bit higher than the 200 day moving average of $54.84. The 50 day moving average was up by +7.35% and the 200 day average was up $7.34. (NASDAQ:UBNT) shares saw light trading volume with 247K shares changing hands by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 43.61% under the normal average daily volume.
Traders are more bearish on Ubiquiti Networks, Inc. of late as shown by the motion in short interest. The company experienced a rise in short interest between September 29, 2017 and October 13, 2017 of 5.68%. Short shares increased from 10,389,049 to 10,979,652 over that timeframe. The short-interest ratio increased to 21.0 and the percentage of shorted shares is 0.13% as of October 13.
A few notable investment firms have updated their holdings. As of the end of the quarter First Trust Advisors Lp had acquired 2,999 shares growing its holdings by 10.9%. The value of the investment in Ubiquiti Networks, Inc. went from $1,432,000 to $1,712,000 increasing 19.6% since the last quarter. As of quarter end Nationwide Fund Advisors had bought a total of 674 shares growing its position 1.0%. The value of the company’s investment in Ubiquiti Networks, Inc. increased from $3,404,000 to $3,707,000 a change of $303,000 quarter over quarter.
Huntington National Bank trimmed its investment by selling 197 shares a decrease of 10.2% from 06/30/2017 to 09/30/2017. Huntington National Bank currently owns 1,741 shares valued at $98,000. The value of the position overall is down by 3.0%. As of quarter end Raymond James Financial Services Advisors, Inc. had acquired a total of 1,380 shares growing its stake by 5.4%. The value of the investment in UBNT went from $1,335,000 to $1,516,000 a change of 13.6% for the reporting period.
The P/E ratio is 20.12 and market cap is 5.00B. In the latest earnings report the EPS was $3.09 and is projected to be $3.68 for the current year with 80,353,000 shares outstanding. Next quarter’s EPS is expected be $0.94 with next year’s EPS anticipated to be $4.46.
Ubiquiti Networks, Inc., launched on June 24, 2010, develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Business’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 Business’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 Business’s service 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. Its enterprise solutions include Enterprise WLAN-UniFi, Video Surveillance-UniFi Video, UniFi Switch, UniFi Security Gateway and Machine-To-Machine Communication-mFi..