QualTek Services Inc. (NASDAQ:QTEK) CFO Adam Paul Spittler Buys 7,250 Shares of Stock

QualTek Services Inc. (NASDAQ:QTEK – Get Rating) CFO Adam Paul Spittler bought 7,250 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average price of $1.50 per share, with a total value of $10,875.00. Following the completion of the transaction, the chief financial officer now directly owns 7,250 shares of the company’s stock, valued at $10,875. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of QualTek Services stock opened at $1.49 on Friday. The stock has a 50-day moving average price of $1.97. QualTek Services Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $10.43.

QualTek Services (NASDAQ:QTEK – Get Rating) last issued its quarterly earnings data on Thursday, March 31st. The company reported ($12.86) earnings per share for the quarter. The business had revenue of $147.06 million for the quarter. Sell-side analysts expect that QualTek Services Inc. will post -0.35 EPS for the current year.

A number of research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of QualTek Services to $7.00 and set an “underperforrm” rating for the company in a research report on Thursday, May 19th. Craig Hallum started coverage on shares of QualTek Services in a research report on Monday, March 14th. They issued a “buy” rating for the company. Finally, Oppenheimer started coverage on shares of QualTek Services in a research report on Wednesday, April 6th. They issued an “outperform” rating and a $7.00 price objective for the company.

Several hedge funds have recently added to or reduced their stakes in QTEK. Millrace Asset Group Inc. purchased a new stake in shares of QualTek Services during the first quarter worth about $953,000. Skylands Capital LLC purchased a new stake in shares of QualTek Services during the first quarter worth about $68,000. ACT Capital Management LLC purchased a new stake in shares of QualTek Services during the first quarter worth about $1,137,000. Wasatch Advisors Inc. purchased a new stake in shares of QualTek Services during the first quarter worth about $4,409,000. Finally, B. Riley Asset Management LLC purchased a new stake in shares of QualTek Services during the first quarter worth about $48,000.

QualTek Services Company Profile (Get Rating)

QualTek Services Inc provides communications infrastructure, power grid modernization, and renewable solutions to telecommunications and utilities industries in North America. The company operates through two segments, Telecom, and Renewables and Recovery Logistics. The Telecom segment engages in the installation, project management, maintenance, real estate, and site acquisition; fiber optic aerial and underground installation, fiber optic splicing, termination and testing, new installation, engineering, and fulfillment services to telecommunication companies; and electrical contracting, and utility construction and maintenance services to municipalities, electric membership cooperatives, and electric-utility companies.

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