Insider Selling: Ruckus Wireless CFO Sells 25,000 Shares of Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CFO Seamus Hennessy sold 25,000 shares of Ruckus Wireless stock on the open market in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the transaction, the chief financial officer now directly owns 20,666 shares in the company, valued at approximately $310,197. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Ruckus Wireless (NASDAQ:RKUS) traded up 3.18% on Wednesday, hitting $15.24. The stock had a trading volume of 2,095,083 shares. Ruckus Wireless has a 1-year low of $10.24 and a 1-year high of $26.50. The stock’s 50-day moving average is $13.50 and its 200-day moving average is $14.54. The company has a market cap of $1.204 billion and a P/E ratio of 476.45.
Ruckus Wireless (NASDAQ:RKUS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts expect that Ruckus Wireless will post $0.18 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Wedbush initiated coverage on shares of Ruckus Wireless in a research note to investors on Tuesday. They set an “outperform” rating and a $18.00 price target on the stock. Separately, analysts at JMP Securities initiated coverage on shares of Ruckus Wireless in a research note to investors on Friday, December 20th. They set a “market perform” rating on the stock. Finally, analysts at Craig Hallum initiated coverage on shares of Ruckus Wireless in a research note to investors on Wednesday, December 11th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $18.14.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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