Ruckus Wireless VP Sells $203,750 in Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) VP Barton Burstein sold 12,500 shares of Ruckus Wireless stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $16.30, for a total value of $203,750.00. Following the transaction, the vice president now directly owns 22,500 shares of the company’s stock, valued at approximately $366,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on RKUS. Analysts at Piper Jaffray Cos. raised their price target on shares of Ruckus Wireless from $17.50 to $20.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Ruckus Wireless from $17.00 to $18.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities initiated coverage on shares of Ruckus Wireless in a research note to investors on Monday. They set a “market perform” rating and a $18.00 price target on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ruckus Wireless presently has a consensus rating of “Buy” and an average price target of $18.88.
Ruckus Wireless (NASDAQ:RKUS) traded down 5.10% during mid-day trading on Thursday, hitting $14.50. The stock had a trading volume of 3,078,823 shares. Ruckus Wireless has a 52-week low of $10.24 and a 52-week high of $26.50. The stock’s 50-day moving average is $16.95 and its 200-day moving average is $14.77. The company has a market cap of $1.122 billion and a price-to-earnings ratio of 268.07.
Ruckus Wireless (NASDAQ:RKUS) last announced its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $68.90 million for the quarter, compared to the consensus estimate of $67.81 million. During the same quarter last year, the company posted $0.11 earnings per share. Ruckus Wireless’s revenue was up 17.6% compared to the same quarter last year. Analysts expect that Ruckus Wireless will post $0.18 EPS for the current fiscal year.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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