Insider Selling: Ruckus Wireless VP Sells 100,000 Shares of Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) VP Barton Burstein sold 100,000 shares of Ruckus Wireless stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $14.55, for a total value of $1,455,000.00. Following the completion of the transaction, the vice president now directly owns 22,500 shares in the company, valued at approximately $327,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $18.14.
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 52 week low of $10.24 and a 52 week 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 price-to-earnings ratio of 476.45.
Ruckus Wireless (NASDAQ:RKUS) last announced its earnings results on Wednesday, October 30th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts predict that Ruckus Wireless will post $0.18 earnings per share for the current fiscal year.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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