DragonWave (DRWI) Posts Quarterly Results
DragonWave (NASDAQ:DRWI) posted its quarterly earnings results on Wednesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.04, AR Network reports. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $28.42 million.
A number of research firms have recently commented on DRWI. Analysts at Canaccord Genuity cut their price target on shares of DragonWave from $2.60 to $2.10 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. On a related note, analysts at Jefferies Group reiterated a “hold” rating on shares of DragonWave in a research note to investors on Thursday, September 19th. They now have a $2.75 price target on the stock. Finally, analysts at Scotiabank cut their price target on shares of DragonWave from $1.40 to $1.35 in a research note to investors on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $2.03.
DragonWave (NASDAQ:DRWI) traded down 5.76% during mid-day trading on Wednesday, hitting $1.80. 538,069 shares of the company’s stock traded hands. DragonWave has a 52-week low of $1.37 and a 52-week high of $3.74. The stock has a 50-day moving average of $2.43 and a 200-day moving average of $2.50. The company’s market cap is $68.6 million.
DragonWave Inc (NASDAQ:DRWI) is a provider of high-capacity Ethernet microwave solutions for Internet protocol (IP) networks.
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