Maxim Group Reaffirms Buy Rating for Boxlight (NASDAQ:BOXL)

Maxim Group reaffirmed their buy rating on shares of Boxlight (NASDAQ:BOXL) in a report issued on Thursday morning, AnalystRatings.com reports. Maxim Group currently has a $11.00 target price on the stock.

“2Q19 results beat our EBITDA, non-GAAP EPS, and gross margin estimates, while slightly missing on revenue.”,” Maxim Group’s analyst wrote.

Several other research firms have also weighed in on BOXL. Zacks Investment Research lowered shares of Boxlight from a hold rating to a sell rating in a research note on Tuesday, July 30th. ValuEngine upgraded shares of Boxlight from a hold rating to a buy rating in a research note on Tuesday, July 2nd.

NASDAQ:BOXL opened at $2.55 on Thursday. The company has a fifty day moving average of $2.78 and a 200-day moving average of $3.07. The firm has a market capitalization of $26.79 million, a P/E ratio of -6.54 and a beta of 5.74. The company has a quick ratio of 0.41, a current ratio of 0.72 and a debt-to-equity ratio of 0.59. Boxlight has a twelve month low of $1.14 and a twelve month high of $5.04.

Boxlight (NASDAQ:BOXL) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $11.10 million during the quarter, compared to analyst estimates of $12.42 million. Boxlight had a negative net margin of 20.02% and a negative return on equity of 89.73%. On average, analysts anticipate that Boxlight will post -0.47 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BOXL. Geode Capital Management LLC acquired a new stake in Boxlight in the 4th quarter valued at $45,000. Virtu Financial LLC acquired a new stake in Boxlight in the 1st quarter valued at $115,000. BlackRock Inc. grew its position in Boxlight by 319.9% in the 2nd quarter. BlackRock Inc. now owns 11,660 shares of the company’s stock valued at $36,000 after purchasing an additional 8,883 shares during the period. Vanguard Group Inc. grew its position in Boxlight by 188.0% in the 2nd quarter. Vanguard Group Inc. now owns 371,327 shares of the company’s stock valued at $1,140,000 after purchasing an additional 242,393 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Boxlight in the 2nd quarter valued at $33,000. 3.14% of the stock is owned by institutional investors and hedge funds.

About Boxlight

Boxlight Corporation, an education technology company, develops, sells, and services interactive classroom solutions for the education market worldwide. The company provides a range of interactive classroom technology products primarily targeted at the K-12 education market. Its products include interactive projectors, interactive 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.

Read More: Cryptocurrencies

Receive News & Ratings for Boxlight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boxlight and related companies with MarketBeat.com's FREE daily email newsletter.