Insider Selling: Barton M. Burstein Unloads 100,000 Shares of Ruckus Wireless Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) VP Barton M. Burstein unloaded 100,000 shares of the company’s stock on the open market in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $14.43, for a total value of $1,443,000.00. Following the transaction, the vice president now directly owns 22,500 shares in the company, valued at approximately $324,675. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on RKUS shares. Analysts at Wedbush initiated coverage on shares of Ruckus Wireless in a research note to investors on Tuesday, January 7th. 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $18.14.
Ruckus Wireless (NASDAQ:RKUS) traded up 2.43% during mid-day trading on Thursday, hitting $15.15. 733,955 shares of the company’s stock traded hands. Ruckus Wireless has a 1-year low of $10.24 and a 1-year high of $26.50. The stock has a 50-day moving average of $13.93 and a 200-day moving average of $14.64. The company has a market cap of $1.196 billion and a P/E ratio of 477.10.
Ruckus Wireless (NASDAQ:RKUS) last issued its quarterly earnings data 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.