Maris-Tech (NASDAQ:MTEK) Shares Up 9.6% – Here’s What Happened

Maris-Tech Ltd. (NASDAQ:MTEK) shares shot up 9.6% on Thursday . The company traded as high as $1.15 and last traded at $1.14. Approximately 131,378 shares changed hands during trading, an increase of 164% from the average session volume of 49,715 shares. The stock had previously closed at $1.04.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTEK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maris-Tech in a research note on Friday, July 17th. Wall Street Zen downgraded Maris-Tech to a “strong sell” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Maris-Tech Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.57 and a debt-to-equity ratio of 3.25. The business’s fifty day simple moving average is $1.14 and its 200-day simple moving average is $1.37.

Maris-Tech (NASDAQ:MTEK) last released its quarterly earnings data on Friday, May 15th. The company reported $1.67 EPS for the quarter. The company had revenue of $0.32 million for the quarter.

Hedge Funds Weigh In On Maris-Tech

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in shares of Maris-Tech during the 2nd quarter valued at approximately $66,000. Osaic Holdings Inc. grew its holdings in shares of Maris-Tech by 300.0% in the second quarter. Osaic Holdings Inc. now owns 33,600 shares of the company’s stock valued at $108,000 after purchasing an additional 25,200 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Maris-Tech in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 0.55% of the company’s stock.

Maris-Tech Company Profile

Maris-Tech Ltd. designs and manufactures digital video and audio hardware and software solutions for the professionals, as well as the civilian and home security markets worldwide. The company offers intelligent video surveillance solutions, communication technology products, modular video encoding/decoding platform, ultra-low latency streaming solutions, dual channel low power encoder systems, multi channel encoding streaming and recording platform, miniature recording and streaming platforms, and video encoding and decoding platform.